Millennium Post

Cryptocurrency exchange Bithumb loses $30 mn after being hacked

Seoul: Seoul-based cryptocurrency exchange Bithumb on Wednesday announced it had lost over $30 million after being hacked, the second cyberattack in two weeks to hit a major South Korean bitcoin exchange, the media reported.

"Bithumb said it had lost $31.56 million (35 billion won) worth of cryptocurrencies and has temporarily halted withdrawal and deposit services," The Wall Street Journal reported on Wednesday.

The operator announced on Twitter that the stolen coins would be covered from Bithumb's own reserves and that all users' assets are being transferred to safer "cold wallet."

"Notice for the temporary suspension of the deposits. Due to the increasing safety issues, we are changing our wallet system. Please do not deposit until we notify," the company tweeted.

"All deposits are not deposited into your wallet until all changes are completed," Bithumb added.

The exchange, however, did not mention a timeline of when it would restart its deposit and withdrawal services.

Meanwhile, Bitcoin fell from about $6,718.35 to as low as $6,561.79, following the tweets from Bithumb, according to CoinDesk's bitcoin price index.

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