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

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.

Crypto Exchange OKEx Refuses to Bow to Pressure to Delist Bitcoin SV (BSV)

On Tuesday (April 16), Malta-based cryptocurrency exchange OKEx announced that it had decided not to delist Bitcoin SV (BSV) "for the time being."

When it comes to Bitcoin SV, Monday (April 15) was one of the most news-packed days in cryptoland. Here are some of the main highlights:

  • Binance announced that it had decided to delist Bitcoin SV:
  • Kraken created a Twittter poll to find out what percentage of the crypto community wanted it to delist Bitcoin SV:
  • ShapeShift CEO Erik Voorhees said that his exchange had decided to show solidarity with Binance by also delisting Bitcoin SV:
  • Recently-founded BSV-based cryptocurrency exchange FloatSV, which was created in partnership with OKEx, announced that it was going to launch by April 19:
  • Bitcoin SV advocate Calvin Ayre comemnted on the timing of the launch of the FloatSV exchange:
  • Tyler Winklevoss, Co-Founder and CEO of the Gemini exchange reminded everyone that Gemini had never listed Bitcoin SV and that's why it had nothing to announce regarding a possible delisting of Bitcoin SV:

And then around 04:45 UTC on April 16, we got the following tweets from OKEx to explain why it had decided not to delist Bitcoin SV (at least not for now):


Featured Image Courtesy of OKEx