Hackers Stole $30M Worth of Cryptocurrencies from Bithumb

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Bithumb, a South Korean cryptocurrency disclosed that it was the latest victim of hacking. It lost more than 35 billion won or $30 million worth of digital currencies. The theft prompted the cryptocurrency exchange to temporarily suspend transactions on its platform.

In a statement, Bithumb said the hacking occurred between between Tuesday night and Wednesday morning local time. “Our priority is to secure our customers’ assets at all times and we will continue to serve our customers,” it said.

In a tweet, Bithumb said it is changing its wallet system due to increasing safety issues. It is transferring all of its users’ assets to a safer “cold wallet.” The South Korean cryptocurrency exchange also stated that it will use its funds to replace the stolen digital currencies.

Additionally, Bithump apologized for the inconvenience and will inform users regarding the resumption of its service.

Bithumb is the sixth largest cryptocurrency exchange worldwide, according to data from CoinMarketCap.

Bitcoin and other cryptocurrencies decline

The price of bitcoin declined from $6,742.67 yesterday to $6,561.79 early morning on Wednesday. The values of other cryptocurrencies such as ethereum and litecoin also dropped due to the news, according to data from Coindesk.

Last week, Coinrail, another South Korean cryptocurrency exchange reported that hackers stole approximately 30% of the cryptocurrencies traded on its platform. A local media stated that the value of the stolen digital currencies was around 40 billion won or $37.14 million.

In January, cybercriminals stile $400 million worth of XEM digital currency from Coincheck, a Japanese cryptocurrency exchange.