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Alert: Bithumb Hacked, Millions Worth of Cryptocurrency Stolen

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Just days after the DragonEx exchange got hacked, BitHumb, the largest cryptocurrency exchange of South Korea has been hacked for the second time for a huge number of EOS and XRP coins.

The Bithumb exchange was also hacked last year which led to around $30 million of cryptocurrencies being stolen. The exchange was able to recover only $14 million of the same and had shut down its deposit and withdrawals for months after the hack.

 

Bithumb Hacked: Yet Again

According to Dovey Wan, the founding partner of Primitive Ventures who cite information from local blockchain analytics firms and cyber-security firms, the EOS wallet of the Bithumb exchange was hacked yesterday (Friday) i.e. 29th March 2019, which has led to around 3 million EOS being stolen. 3 million EOS according to current market price are valued at around $12.5 million.


From an initial look at the wallet, it appears that the hot wallet of the exchange was hacked and not its cold wallet.


There has not been any official announcement from the exchange regarding the hack, however, analysts are believing that the hack took place because around 3 million EOS were transferred to different cryptocurrency exchanges such as Huobi, Changelly, KuCoin, CoinSwitch and EXMO. However, around 63 percent of the hacked funds are still in the wallet of the hacker.

According to CoinDesk Korea, Rohan from the EOSauthority team is pretty sure that the private keys of Bithumb was stolen. Also Bithumb has shut down the deposits and withdrawals on the platform stating the reason as “in order to provide more stable service”.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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