Hackers steal $30 million from top Seoul bitcoin exchange

Hackers steal $30 million from top Seoul bitcoin exchange

Meanwhile, the company said remaining assets had been moved to a cold wallet to be stored in a more secure environment that is not accessible via the internet.

"All deposit and withdrawal services will be stopped to make sure [of our] security".

For now, Bithumb is moving the remainder of its funds into a cold wallet to avoid further risk.

Just weeks after Korean crypto exchange Coinrail lost $40 million through an alleged hack, another in the crypto-mad country - Bithumb - has claimed hackers made off with over $30 million in cryptocurrency. During crypto's swift rise into the public eye there's been various calls for regulation and investigation into the market, and multi-million dollar exchange heists certainly don't help foster legitimacy for cryptos across the global financial community as a whole.

According to Korean resident officials from the Sentinel Protocol, a project specializing in hacking, scam, and fraud detection, the hot wallet was hacked on the night of June 19 and some of the stolen coins include Ripple.

"[Notice for the temporary suspension of the deposits].Due to the increasing safety issues, we are changing our wallet system".

Palace says UK's Prince Louis to be christened July 9
Kate only first attended the horse racing meet in 2016 four years after her wedding to Prince William , but also attended in 2017. Kate worked right up until she was eight moths pregnant with Prince George, returning to work just five weeks after giving birth.

Bithumb plans to compensate users affected by the hack - they intend to cover all the losses.

Bithumb is thought to be the sixth largest exchange in the world based on its trading volume of over $370m.

Bitcoin dropped more than 2.3 per cent in value as the news emerged. The Coinrail hack coincided with a significant dip in the prices of cryptocurrencies, with Bitcoin losing $1,000 in a matter of hours.

Bithumb trades more than 37 different virtual coins. Without an independent audit or third-party report into the incident, however, it is hard to know exactly what happened.

Do you think the Bithumb hack will cause a massive dip in the prices of cryptocurrencies?

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