The company said in an announcement today that the hack happened between late Tuesday night until early Wednesday morning Korean time.
Though Bithumb has yet to disclose which cryptocurrency or in what amount had been damaged, it said in the announcement that the loss will be covered by the platform.
As such, Bithumb said investors should “immediately discontinue depositing cryptocurrencies until further notice.”
As of press time, Bithumb is seeing over $300 million 24-hour trading volume on its platform, making it currently the sixth largest exchange in the world, data from CoinMarketCap shows.
As previously reported by CoinDesk, Coinrail, a smaller cryptocurrency exchange in the country also reported that it was hacked on June 10.
Bithumb, one of the largest cryptocurrency exchange in South Korea by trading volume, is halting asset deposit and withdrawal services after a hack that has stolen 35 billion won (or $31 million) worth of cryptos from the platform.
Korean bitcoin and cryptocurrency exchange Bithumb announced they will be adding support for Cardano blockchain native asset ADA. The company also said they are listing Status Network Token (SNT).
Bybit exploited for $1. 4 billion worth of ETH, CEO confirms. Despite the massive loss, Bybit remains solvent and can cover the losses, Ben Zhou said in a post on X. Bybit has suffered a major exploit, with a hacker stealing more than $1.
Radiant Capital has fallen to a hack, with more than $51 million stolen across Arbitrum and BNB Chain. Over $32 million was stolen from Arbitrum, while BNB Chain accounted for about $18 million. Radiant Capital suffered an exploit on Oct.
A crypto whale has lost $35M in fwDETH on Blast network due to phishing permit attack. The attacker drained 15,079 fwDETH, causing price drop from $2,000 to $100. The incident has raised security concerns in DeFi, impacting Blast network scrutiny.
A Singapore court has granted Indian cryptocurrency exchange WazirX a four month moratorium based on certain conditions on Thursday, an industry source told CoinDesk.