Bithumb has announced the recovery of $14 million out of the $31.5 million stolen during the June 20 hack. The South Korea-based cryptocurrency exchange made this fact known via a blog post on its website on June 28, 2018. The platform also provided for the first time, a full accounting of the specific coins taken by the cybercriminals responsible for the attack. Bithumb also revealed that it was working in tandem with other exchange platforms to recover all of the stolen funds. The platform earlier promised that it would reimburse all of its affected customers with an airdrop of cryptocurrencies.

With the $14 million in cryptocurrency recovered so far, Bithumb is now 45 percent of the way to completing its recovery efforts. There is still about $17 million worth of stolen funds left unrecovered. Speaking on the progress made thus far, the announcement said:

“The main reason for the reduction of the damage is due to the ongoing participation, support, and cooperation of cryptocurrency exchanges and cryptocurrency foundations across the world. Also, our quick response to the cyber attack by removing cryptocurrencies from hot wallet to cold wallet effectively contributed to reducing the overall damage.”

When the news of the hack first broke, no details of the specific coins affected in the hack were released. Bithumb has finally revealed that the hackers stole 11 cryptocurrencies. These include notable cryptos like Bitcoin, Ether, and Ripple as well as smaller coins like Golem.

In the situation update released by Bithumb, the hackers stole 2,016 BTC which amounts to approximately $13 million at the current trading price. The attackers also took 2,219 ETH, 692 BCH, and 5,222,490 XRP. In the aftermath of the hack, cryptocurrency prices plunged significantly. However, it cannot be said for sure if the Bithumb attack was directly responsible for the flash crash.

Bithumb has also seen its 24-hour trading volume decline significantly since the hack. This is mostly because deposits and withdrawals are still disabled on the platform. Bithumb has urged its users to hold off on making deposits and withdrawals saying:

“We would like to strongly ask our customers not to deposit any fund until the whole process of deposit service reformation is complete and until a further announcement is given.”

The post Bithumb Reports Recovery of $14 Million in Stolen Cryptocurrency appeared first on UNHASHED.

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