The world’s sixth largest cryptocurrency exchange by daily trade volume, Bithumb, has just been hacked for $31 million. This morning the South Korean exchange announced that hackers had stolen close to 35 million Korean won for its system.
[긴급공지] 입출금 서비스 전면 중단 안내
암호화폐 입금을 중단해 주시기 바랍니다. 오늘 새벽 약 350억원 규모의 암호화폐가 탈취당했습니다. 회원님의 자산은 콜드월렛에 안전하게 보관되고 있습니다. 당분간 거래서비스 외 암호화폐 입출금 서비스 제공을 중단합니다. >> https://t.co/GVs8jLyq2I
— 빗썸 (@Bithumb_Korea) June 20, 2018
The tweet above has been translated from Korean to English and says:
“[Urgent notice] to stop the front of the withdrawal service password please stop the money transfer. Today, about 35 billion in the morning, the size of the password was stolen. Your assets are securely housed in a cold wallet. For the time being, we cease to offer passwords and monetary deposits and withdrawals services.”
While the $31 million may not seem like such a big deal, compared to the $530 million hack at the Coincheck exchange, it’s still a notable and worrying, incident.
The cryptocurrency exchange has yet to release the full details of the hack, but news has emerged that Ripple (XRP) was targeted.
Based on CoinMarketCap, Bithumb accounted for over 10% of the total trade volume of XRP within the last 24 hours. Still, the hack details have yet to be announced officially, so it remains unknown if XRP was the only digital currency compromised – but official details of the hack should surface soon.
Crypto Market Rebound
The cryptocurrency market took a hit when the news broke but it seems to already be rebounding back.
At press time, Bitcoin (BTC) is trading at $6,786 a coin, up 0.11%, in 24 hours. Ethereum (ETH) is currently trading at $539.20 a coin, up 0.54%. The total market cap is sitting just below $300 billion but could break above the mark sometime today.
Featured Image: Unsplash