Cryptocurrency & Blockchain Business

Hackers steal $32M from cryptocurrency exchange Bithumb

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

June has been a dark month with just too many hacks taking place, get the latest Hack news here.

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