2018-6-23 04:05 |
Exchanges
South Korean exchange Bithumb has lowered its theft estimate from the original amount after undergoing some of the recovery process.
The exchange promises to fully repay customers using its own fund even though its insurance is unlikely to cover the loss.
Japan Confirms Entrance Into the Crypto Space
Theft Amount Reduced
South Korea’s second largest crypto exchange, Bithumb, has clarified its situation after reporting a theft on Wednesday, June 20.
Insurance Unlikely to Cover Bithumb’s Loss
Bithumb maintains insurance of up to 6 billion won (~$5.4 million), according to local media.
Its policy is with Heungkuk Fire & Marine Insurance Co. Ltd. for “cyber insurance and personal information lease liability insurance,” Inews24 described on Friday.