Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

6th Largest Crypto Exchange in the World Hacked – $30 Million Stolen

Posted on juni 20, 2018 by Blockchain News

6th Largest Crypto Exchange in the World Hacked - $30 Million Stolen

6th Largest Crypto Exchange in the World Hacked - $30 Million Stolen

Cryptocurrency hacks are becoming so popular that it has become a daily occurrence. The latest is on one of the world’s largest cryptocurrency exchanges, Bithumb. The apparent hack has cost Bithumb a reported loss of $30 million.

Bithumb is a cryptocurrency exchange headquartered in Seoul, South Korea and is a leader in the cryptocurrency market regarding daily transactions. At the end of 2017, the average daily liquidity turnover at Bithumb was equivalent to $ 1.3 billion. It controls most of South Korean’s cryptocurrency trading.

Bithumb has been active on social media Twitter since the hack today morning, posting updates about the precautions to take.

Bithumb urgently ask our valuable customers not to deposit any fund into Bithumb wallet addresses for the time being.

▶https://t.co/rnMGmKMBUf

— Bithumb (@BithumbOfficial) June 20, 2018

Bithumb suspended the acceptance of deposits at around 00:53 UTC and started transferring the assets to cold wallets to ensure no further damage was caused.

Confirmations about how the hack took place have still not been revealed, but the nature of it was hinted by a professor at Korea University’s Blockchain Research Institute. He believed that that the hacker gained access to an internet connected  ‘hot wallet’ of an insecure smaller asset listed on the platform.

“Since coins in the cold wallets are not at all wired to the internet, it would have been impossible for hackers to steal those in cold wallets unless they physically broke in,” the blockchain expert at the research institute said.

Bithumb is the world’s sixth largest cryptocurrency exchange, and thus such a hack sends a message of caution to several traders of the digital coins in using popular cryptocurrency exchanges.

Charlie Lee, the founder of Litecoin, advised fellow crypto traders in a tweet after the hack on Bithumb. The Tweet Read-

Another day, another hack. Hopefully BitThumb is able to cover this amount, though $30MM is not a small amount.

As I’ve said many times, be smart and only keep on exchange coins that you are actively trading. It’s best to withdraw right after trading. https://t.co/8YpVcHx8tK

— Charlie Lee [LTC⚡] (@SatoshiLite) June 20, 2018

Bitcoin was enjoying a bull run the last few days; however, after the hack of Bithumb, it fell by nearly $200. The current price of Bitcoin at the time of writing is $6630.

Another South Korean Exchange called Coinrail was hacked earlier in the month, which led to a loss of $37.2 million worth of coins.

Image Source: “Flickr”

The post 6th Largest Crypto Exchange in the World Hacked – $30 Million Stolen appeared first on Toshi Times.


Source: Toshi Times
Original Post: 6th Largest Crypto Exchange in the World Hacked – Million Stolen

Ledger Nano X - The secure hardware wallet

Recente berichten

  • Chinese Crypto Exchange Huobi To Expand In Latin America, Buys Bitex Crypto Exchange
  • Banks LOVE Bitcoin + Ethereum UPGRADE ADOPTION & Do We NEED This?
  • Bitcoin price stuck below $29K as Terra LUNA comes back from the dead
  • Solana, Avalanche and Two Other Ethereum Rivals Could Crash 50% if Bitcoin Dives Lower, Warns Top Crypto Analyst
  • Dogecoin Climbs After Elon Musk Tweets SpaceX Will Accept The Meme Coin

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2022 Blockchain News Feed | Design: Newspaperly WordPress Theme