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Bithumb Reacts to Hacking News: Is Bithumb Trying to hide something?

Bithumb Reacts to Hacking News: Is Bithumb Trying to hide something?

After the news of Bithumb being hacked for the 2nd time flashed through the web today, Bithumb, the largest cryptocurrency exchange in South Korea has reacted by asking the users to stay calm.

Bithumb Hack:

The hacking of Bithumb was reported first by DoveyWan, the founding partner of Primitive Ventures. According to her, more than 3 million EOS and 20 million XRP have allegedly been transferred from Bithumb’s hot wallet into other cryptocurrency exchanges such as Huobi, Changelly, KuCoin, CoinSwitch, and EXMO.

The exchange had closed down deposits and withdrawals and soon after the news flashed all over the web, Bithumb responded by apologizing to its users for stopping the deposits and withdrawals and also stated that the funds of the users are safe.


According to the notice, the crypto theft was most probably conducted by an insider. The exchange also stated that in collaboration with the cyber police and other authorities in South Korea, they are currently investigating on the same.

What is Bithumb hiding?

At around 10:13 PM, Bithumb had shared on its official Twitter account that cryptocurrency worth $30 million was stolen from the exchange and also stated that they are going to be responsible for all losses faced by the users and that the deposits and withdrawals are being ceased for the moment. However, the tweets were soon deleted by the exchange.

Ruchi Ramaswamy

Published by
Ruchi Ramaswamy

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