Bithumb Claims Retrieval Of $14 Million In Hacked Cryptos

June 28, 2018 5:05 pm Published by

Eight days after hackers stole 35 billion Korean won ($31 million) in various cryptocurrencies from Bithumb accounts, the South Korea cryptocurrency exchange says it has almost halved the losses arising from the action, CoinDesk reported Thursday.

In a progress update Thursday, the company said it has reduced the damage to 19 billion won ($17 million) after working with worldwide exchanges to retrieve some of the funds, as well as to try and prevent further losses, the report said.

Bithumb also disclosed for the first time 11 crypto assets were stolen during the breach, CoinDesk reported. Notably, bitcoin accounted for the largest loss, with 2,016 BTC taken – an amount worth $12 million at today’s rate.

Other major cryptocurrency losses involved in the hack include 2,219 ether, 692 bitcoin cash and 5.2 million XRP, worth around $950,000, $487,000 and $2.4 million, respectively, based on the latest price data from CoinDesk. The remainder comprised of lesser known cryptocurrencies, including significant amounts of aelf, golem and kyber network tokens.

The exchange said the incident is not yet concluded and, as such, it will continue its suspension of asset deposits and withdrawals on the platform, the report said. So far, Bithumb has not disclosed an expected timeline for the resumption of a full service.

Following the last week’s heist, 24-hour trading volume on Bithumb has dropped significantly – from $400 million at the time to $124 million currently – data from CoinMarketCap shows.

WN.com, Jack Durschlag



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