South Korean Bithumb exchange lost $19 million in a hack attack
- Bithumb confirmed that no customer funds were lost in the attack.
- The Block claims that 20 million of XRP tokens worth $6.2 million disappeared from the exchange.
The largest cryptocurrency exchange in South Korea is reported to have lost $19 million in an attack. Details regarding the attack were published by the exchange on March 30. The exchanged discovered some “abnormal withdrawal” precisely at 10:15 on March 26 which was withdrawal siphoning funds from the platform.
Bithumb later confirmed that no customer funds were lost and that all the digital assets stolen belonged to the exchange.
“All the spilled cryptocurrency is owned by company, and all the member’s asset is under the protection of cold wallet.” Bithumb announced.
According to Finance Magnates, the exchange lost 3 million EOS tokens worth $12.7 million siphoned from a hot wallet. Moreover, The Block claims that 20 million of XRP tokens worth $6.2 million disappeared from the exchange.
Bithumb reported that it “has secured all the cryptocurrency from the detection time with a cold wallet and checked them by blocking deposit and withdrawal service.”
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
