On Wednesday, roughly 35 billion Korean won (around $31 million) in cryptocurrency was stolen by hackers from the South Korea-based exchange Bithumb.
According to a follow-up report from CoinDesk Korea, Bithumb conducted a security enhancement checkup on June 16, just days before the confirmed hack.
At the same time, Bithumb also started moving users’ assets to a cold wallet to store cryptocurrencies in a more secure offline environment.
The CoinDesk Korea report indicated that the hack comes at a time when Bithumb is spending 10 billion won, or around $9 million dollars annually on security measures.
Another report from Yonhap further suggests that Bithumb beefed up its security measures by implementing so-called “5.5.7 regulations” last month.
On June 19th 2018, just before 2PM London time, Bithumb was hacked out of $30 million worth of cryptocurrencies. How the hack happened exactly we do not know. Bithumb has...
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According to South Korean central bank the Bank of Korea (BOK), the outstanding balance of virtual currency accounts in domestic banks totalled $1. 79 billion as of Dec. 2017, local news outlet Yonhap reported Friday, July 5.
