One of the busiest virtual coin exchanges in the world, Bithumb, was hacked on Tuesday 19th June and coins worth over $30 million were stolen. All activities on the platform have been temporarily suspended, and there is no news of service renewal yet.

The sixth largest exchange in the world, Bithumb, trades in the most prominent digital currencies include Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Tron.

The company notified their users of the hack in a series of tweets. They first stopped all new deposits and tweeted:

“[Notice for the temporary suspension of the deposits] Due to the increasing safety issues, we are changing our wallet system. Please do not deposit until we notify. *All deposits are not deposited into your wallet until all changes are completed.”

The company soon canceled all new withdrawals along with deposits and said that the losses faced by the users will be covered from the exchange’s own deposits, as reported by CNBC.

Finally, they announced that security issues are keeping them from restarting the service and they will notify users of any change:

“Tweet 3: *All deposit and withdrawal service will be stopped to make sure the security. We will keep notice you of the restart of the service. We apologize for your inconvenience and thanks for your understanding.”

Bitcoin fell from $6,718.35 to $6,561.79 while Ethereum slumped to $521.07 from $535 immediately following the news. Earlier, a hack in a smaller Korean exchange, which looted the platform of $30 million worth of lesser-known ERC20 tokens, was followed by Bitcoin prices falling 10 percent.

The post Bithumb Loses $30 Million After South Korean Exchange Is Hacked appeared first on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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