Hackers have reportedly made away with cryptocurrencies worth $30 million from Bithumb, South Korea’s leading exchange, according to reports from a blog update.
The exchange states that due to the hack, deposits and withdrawals will be temporarily suspended until further notice.
All of our customers should stop depositing cryptocurrency until we notified that it is safe to deposit cryptocurrency.”
The Hack In its announcement, Bithumb didn’t disclose the exact details of the coins that were affected in the hack and in what quantities.
The recent hack is Bithumb’s second attack this year and the third attack on a South Korean cryptocurrency exchange.
Hackers have reportedly made away with cryptocurrencies worth $30 million from Bithumb, South Korea's leading exchange, according to reports from a blog update. The exchange states that due to the hack, deposits and withdrawals will be temporarily suspended until further notice.
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.
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Only VASP-registered platforms will stay available on the Play Store. Local exchanges like Upbit and Bithumb could gain more market share. Some traders may shift towards DeFi and non-custodial wallets.
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Most breaches involved failures in customer due diligence and identity verification processes. The action coincides with reports of a potential majority acquisition by Mirae Asset. The case reinforces stricter regulatory expectations across South Korea’s crypto sector.
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Hyundai Group’s Seoul offices were evacuated after an email threatened explosions unless a Bitcoin ransom was paid, authorities and media reports said. Related Reading: Hoskinson Warns Trump’s Crypto Push Could Backfire On The Industry The message demanded 13 Bitcoin — roughly $1.
Bitcoin Magazine
‘Pay 13 Bitcoin or We Blow It Up’: Hyundai Bomb Threat Shakes South Korean Offices
Hyundai Group evacuated staff from two Seoul offices after receiving a bomb threat email demanding bitcoin.