South Korean Crypto Exchange Bithumb Hacked, KRW 35 Billion ($31.5 Million) Stolen, Withdrawals and Deposits Suspended

Siamak Masnavi

Bithumb, the world's six largest crypto exchange (by trading volume), has been hacked, with 35 billion South Korean Won (around $31.5 million) stolen.

The South Korean exchange announced on its blog around 09:47 (Korean time) Wednesday, 20 June 2018, that it had been hacked sometime between late Tuesday night and early Wednesday morning, and that as a result of this attack, 35 billion South Korean Won, or approximately $31.5 million, was stolen.

It also told its users that all of their cryto assets were being moved to cold (offline) storage for extra security, and that until further notice, all crypto withdrawals and deposits were suspended.

The first indication that something had gone wrong came approximately an hour earlier than the above announcement, when Bithumb posted the following tweet:

It then followed these with two other tweets:

Note that none of these three tweets mentions that Bithumb was hacked. Apparently, there was another tweet that did mention that $30 million had been stolen, but that tweet appears to have been deleted.

This attack on Bithumb comes roughly 10 days after we reported that a smaller South Korean crypto exchange, Coinrail, was hacked.

We will keep you updated as the story develops.