Bithumb – Details Still Sketchy After $30 Mln Hack

South Korea’s biggest cryptocurrency exchange Bithumb is scrambling to protect users funds after a large scale hack.

Initial reports from the Yonhap new agency indicate that over $30 million worth of cryptocurrencies were stolen during a cyber attack on June 19.

Cointelegraph Japan was informed that the hot wallet was hacked during the night and cryptocurrency stolen included Ripple. Once the exchange was made aware of the attack, it froze deposit and withdrawal services. Bithumb has already assured customers affected by the hack will be compensated for their losses.

“We checked that some of cryptocurrencies valued about $30 million was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallets.”

Furthermore, the exchange began moving all cryptocurrencies into a cold wallet on June 16, in conjunction with a security system check and database upgrade as per its Twitter account:

It is understood that the exchange also moved a large amount of Ether to its cold storage wallet as well.

South Korean authorities on the case

The country’s Ministry of Science and Technology has already launched an investigation into the incident, according to the Yonhap news agency.

The hack has also prompted the Korea Internet & Security Agency (KISA) to get involved in order to figure out how the hack took place, working closely with local police and other agencies. Authorities reportedly sent officers to Bithumb’s headquarters in Seoul to collect data and records from company computers.

Not the first time

This is not the first time that Bithumb has been compromised by a hacker. In July 2017, an employee’s computer was compromised, leading to 30,000 customers’ personal details being stolen.

It’s understood that the data was stolen from the personal computer of the employee, and not the company’s servers. The data did not contain passwords, but it was enough to enable fraudsters to use the information to dupe users.

This led to numerous Bithumb customers falling prey to scam calls and messages asking for account authentication codes. Those that fell for the scam saw funds stolen from their Bithumb accounts.

Details still unclear

At this stage, it is not yet clear which specific cryptocurrencies were stolen from the exchange. Ripple tokens have been identified as one of the virtual currencies stolen, but we still don’t know how many of the 37 cryptocurrencies traded on the exchange were taken as well.

EOS and Tron are the top two cryptocurrencies traded on the exchange, amount to 34 percent and 21 percent of trade volume respectively…

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