Hackers just stole $30 million from the world's sixth largest crypto exchange

Adam Berry / Getty Images
  • Bithumb is the second South Korean exchange to be hacked in the last month.
  • The exchange stated the amounts will be refunded, and it has removed all other assets to cold wallet storage.

Hackers have stolen cryptocurrencies worth $US30 million from South Korea’s leading virtual currency exchange, Bithumb. As a result, all deposits and payments have been temporarily suspended.

The exchange said it will compensate users affected by the hack, and that all assets are being moved to a cold wallet.

Per Bithumb:

[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.

Earlier this month, Bithumb moved a large amount of ethereum to its cold wallet when it recently noticed abnormal access.

On June 16, Bithumb announced an abrupt server check “in order to maximize security settings.” The maintenance was planned for between 5:20am and 9am (KST), but exceeded the scheduled timeframe.

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.

According to CoinMarketCap, Bithumb’s 24-hour trade volume at press time is over $374 million, the world’s sixth largest. A short time ago, prices for bitcoin had fallen by 2% to around $US6,600.

Earlier this month, hackers stole around $37 million from South Korean crypto exchange Coinrail.

While Coinrail was only ranked the 99th largest crypto exchange in the world in terms of trade volume, Bitcoin prices fell by around 10% following the breach.

This post first appeared at CoinTelegraph, the authority on global cryptocurrency markets. Read the original article here. Follow CoinTelegraph on Facebook or Twitter.

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