Bithumb Hacked For $30 Million In Cryptocurrency

Bithumb, one of the Asia largest cryptocurrency exchange was hacked for $30 million. This result in the cryptocurrency market to drop slightly. The South Korean exchange said in a notice in a tweet that it has stopped all trading after discovering the theft, to allow them to get their security back under control.

They also said that stolen cryptocurrencies will be covered with their own coins, and all of the assets are being transferred to a cold wallet. Lite Coin founder Charlie Lee was not happy about the hack and express his opinions on Twiter.

“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.”

The hack marks it the second crypto incident in less than two weeks in South Korea according to coindesk. South Korea emerged last year as one of the world’s major markets for trading in bitcoin and other virtual currencies.