Bitcoin: Coins worth $30m from Korean bitcoin exchange Hacked

2 min


South Korean bitcoin exchange in their press release stated, $31m worth of virtual coins were robbed by hackers.

cryptocurrency

Korean concurrency exchange Bithumb in a notice on website further said it had stopped all trading after ascertaining “some cryptocurrencies worth about 35 billion won were seized between late yesterday and early morning today.”

The top busiest exchange Bithumb according to Coinmarketcap.com, it had stored “all clients’ assets in safe cold wallets,” which operate on platforms not directly connected to the internet.

It has suspended deposits and withdrawals after losing million worth of cryptocurrencies as the result of an apparent hack.

[Notice for the suspension of all deposit and withdrawal service]
We checked that some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.

— Bithumb (@BithumbOfficial) June 20, 2018

This incident marks the second time a South Korean exchange had been hacked this month. Less than two weeks ago, little-known bourse Conrail lost approximately $37.2 million worth of coins, including a variety of ERC-20 tokens.

This has led to a major crash in a market, it dropped more than 200 dollars in an hour.

Source: CCN


Like it? Share with your friends!

Paras Waswani

Choose A Format
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles