Major cryptocurrency exchange Bithumb halts trading after more than $31 million hack

By Brian Murphy June 19 Bitcoin logos at the Inside Bitcoins conference and trade show in New York in 2014 (Mark Lennihan/AP) SEOUL — One of the largest cryptocurrency exchanges suspended operations Wednesday after announcing hackers stole more than $31 million worth of virtual currency, pushing down the value of some top names, including bitcoin The attack on the South Korea-based exchange, Bithumb, was smaller in value than some of the biggest hacks on cryptocurrencies But it underscored the potential vulnerabilities for web-based trading and sent ripples across many cryptocurrency networks A statement from Bithumb gave no details on how hackers penetrated the system, which is among the top sites for cryptocurrency trading Bithumb said its cryptocurrency holdings were shifted to an offline “cold wallet,” and any losses for traders would be covered Deposit and withdrawal services were halted “for the time being,” the exchange said It did not say when they could resume. News of the breach sent Bitcoin’s price down sharply, but the value later leveled off S.Korea Bithum says hackers stole 35 billion won of cryptocurrency.Bitcoin’s price is sinking #cryptocurrency pic— Sohee Kim (@soheefication) June 20, 2018

One thought on “Major cryptocurrency exchange Bithumb halts trading after more than $31 million hack”

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