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Blockchain & Cryptocurrency

Crypto Exchange Bithumb Ceases Deposits and Withdraws After Hackers Stole $31 Million

The Infinite Brief
South Korea’s Bithumb, one of the largest cryptocurrency exchanges in the world by trading volume, has halted deposit and withdrawal services after hackers stole 35 billion won ($31 million) from the platform.

The company said in an announcement today that the hack happened between late Tuesday night and early Wednesday morning local time. Although Bithumb has yet to disclose which and how much cryptocurrency had been stolen, it said in the announcement that the loss will be covered by the platform.

The company said remaining assets had been moved to a cold wallet to be stored in a more secure environment that is not accessible via the internet. As such, Bithumb said investors should “immediately discontinue depositing cryptocurrencies until further notice.”

While the platform did not disclose the amount of the damage, other sources suggested at the time that $40 million-worth of cryptocurrencies could have been taken.

Originally via Coindesk

South Korea’s Bithumb, one of the largest cryptocurrency exchanges in the world by trading volume, has halted deposit and withdrawal services after hackers stole 35 billion won ($31 million) from the platform.

See the original article at https://www.coindesk.com/crypto-exchange-bithumb-halts-services-amid-31-million-hack/

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