South Korea’s biggest cryptocurrency exchange, Bithumb, said Wednesday it lost 35 billion won ($31.5 million) worth of cryptocurrencies in a hacking attack, highlighting concerns that cryptocurrency exchanges are vulnerable to cyber attacks.
The theft took place between Tuesday night and dawn on Wednesday, Bithumb said in a statement.
Bithumb said its cryptocurrencies were moved to a more secure “cold wallet,” which can transfer coins to a platform that is not connected to the Internet.
Deposit and withdrawal services were halted “for the time being,” the exchange said.
“The loss will be compensated by Bithumb’s own reservoir,” Bithumb said.
It was the second hacking attack of a cryptocurrency exchange in less than two weeks in South Korea.
Earlier this month, a minor exchange Coinrail was hacked.
Another day, another hack. Hopefully BitThumb is able to cover this amount, though $30MM is not a small amount.
As I've said many times, be smart and only keep on exchange coins that you are actively trading. It's best to withdraw right after trading. https://t.co/8YpVcHx8tK— Charlie Lee [LTC⚡] (@SatoshiLite) June 20, 2018
June has been a dark month with just too many hacks taking place, get the latest Hack news here.