Cryptocurrencies fall as South Korean crypto exchange says US$32m stolen

Korean crypto exchange Bithumb says it lost over $30M following a hack		
		
	Jon Russell

       @	   
   	11 hours

Korean crypto exchange Bithumb says it lost over $30M following a hack Jon Russell @ 11 hours

Bithumb lost some 35 billion won ($32 million) worth of various cryptocurrencies to a cyberattack, the company said Wednesday.

In Ho, a professor at Korea University's Blockchain Research Institute, said the stolen coins were most likely to be from the more insecure 'hot wallets'.

Melissa Lee went on to ask the question about "when" the market is expected to recover from the bear market, and the Litecoin founder has made a decision to take a more diplomatic stance and distance himself from price predictions. However, we will make every effort to reopen the service as soon as possible, with the ultimate goal of protecting your assets.

Bithumb said it would fully compensate customers. The firm said the cyber heist occurred in the late Tuesday and was detected around 11 p.m., Bithumb halted all deposits two hours later and posted a notice on its website. The exchange trades in all the big cryptocurrencies including Bitcoin, Ethereum, Ripple, Tron, and Bitcoin Cash.

Bithumb had managed to preempt what it interpreted as an imminent attack on its server by moving a large number of cryptocurrencies to its cold wallet after noticing the "number of unusual access attempts" had increased, which led it to "strengthening security".

France fail to convince in victory over Australia
On 17 minutes France 'keeper Hugo Lloris turned a risky deflection from Corentin Tolisso around his far post. After the equalizer, both sides became much more physical as they anxiously searched for the victor .

The South Korean Ministry of Science and Technology (MIC) has launched a probe into the hack of one of the country's leading crypto exchange, Bithumb, Cointelegraph has reported, citing information from the local press. Bithumb immediately started transferring the remaining assets to cold wallets to prevent any further loss, and the trading has been stopped since then. The hackers got away with $31.51 million worth of virtual currency, the exchange said in a statement on Wednesday.

As mentioned earlier, Bithumb was the second cryptocurrency exchange to be hacked within this month.

In January, Japanese site CoinCheck was hacked and investors lost about $500 million worth of assets.

Bitcoin price is teasing traders with brief bullish signals, besides it has maintained the support at $6,600; covered in an earlier analysis today. However, the effect of the Bithumb hack has seemingly sent Bitcoin's value into a downward slide to just $6,562 in the last 24 hours.

Recommended News

  • Late win over Tunisia a 'huge moment' for England

    Late win over Tunisia a 'huge moment' for England

    Panama will be a chance for further goals Watch the reaction of England fans to Harry Kane's last-gasp victor against Tunisia . And they are firm favourites to beat minnows Panama before the Group G decider against Belgium .
    Children separated from parents at US border sob, wail desperately

    Children separated from parents at US border sob, wail desperately

    One utterly distressed Salvadoran girl, which ProPublica said was all of six, can be heard begging authorities to call her aunt. McCain tweeted Monday night that the administration has the power to rescind this policy and "should do so now".
    Roger Federer explains his hectic schedule for next 48 hours

    Roger Federer explains his hectic schedule for next 48 hours

    The 36-year-old will need to defend his title at Halle to maintain his No. 1 spot ahead of Wimbledon. I will have a quiet week before Wimbledon with not many things going on, which is great.
  • Hornets traded Dwight Howard to the Nets

    Hornets traded Dwight Howard to the Nets

    Getting that, along with a path to two max salary slots in 2019-20 in exchange for getting rid of a grumbling Timofey Mozgov? Howard, 32, played for the Hornets in the 2017-18 season, where he averaged 16.6 points and 9.3 rebounds in 81 games.
    England's Marcus Rashford expected to train fully on Friday

    England's Marcus Rashford expected to train fully on Friday

    The Football Association indicates it is a precautionary measure and manager Gareth Southgate called it a "slight knock" upon England's arrival.
    Vote for the Hottest Player in the 2018 World Cup Games

    Vote for the Hottest Player in the 2018 World Cup Games

    Just a week ago, Saudi Arabia lost by a respectable 2-1 scoreline to Germany in their final warm-up game in Leverkusen. Al-Sheikh claims Saudi Arabia failed to meet their requirements "even by five per cent" following the heavy defeat.
  • Beyonce and Jay-Z drop joint album

    Beyonce and Jay-Z drop joint album "Everything Is Love" on Tidal

    The rapper also says he turned down the NFL halftime show, rapping that the league needs him more than he needs them. And in the last few seconds of the song, Blue Ivy takes over the microphone with 'Shoutout to Rumi and Sir.
    Homeland Security chief slams 'irresponsible' reports of separating migrant families

    Homeland Security chief slams 'irresponsible' reports of separating migrant families

    Technically, Nielsen's correct: families are separated not at the US-Mexico border, but near the border, at a sorting centre. That was the rule, Kraft said she was told: They're not allowed to touch the children.

    'No disrespect': Phil Mickelson putts moving ball at US Open

    Dustin Johnson, who tees off at 3:10 p.m. today, has a strong lead at four-under, the only player under par. Phil Mickelson turned 48 on Saturday, an occasion marked by fans singing "Happy Birthday" at every turn.
  • Iran beat Morocco with 95th-minute own goal

    Iran beat Morocco with 95th-minute own goal

    Using the width strongly, Morocco moved forward with Ayoub El Kaabi, Amine Harit and Hakim Ziyach combining well. For now, Iran remain the rank outsiders in the group but Queiroz is happy to play the role of underdogs.
    Ousted GOP Rep. Mark Sanford: Trump 'lies' are harmful to Republicans

    Ousted GOP Rep. Mark Sanford: Trump 'lies' are harmful to Republicans

    Her unexpected victory now makes Arrington the poster child for the pro-Trump wing of the Republican Party's 2018 takeover. On the Democratic side, the race was much closer with Janet Mills receiving 32.6 percent and Adam Cote with 28.1 percent.
    Judge orders ex-Trump campaign manager Paul Manafort to jail

    Judge orders ex-Trump campaign manager Paul Manafort to jail

    The blunt remarks came the same day that Manafort was ordered to jail amid allegations of witness tampering. Kilimnik, whom Mueller's office says has ties to Russian intelligence, could not be reached for comment.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.