Select Page


Among Ether cryptocurrencies exchanges Bithumb and the world’s largest Bitcoin has been hacked, resulting in loss of over $1 Million after some of its consumer accounts compromised in cryptocurrencies.

Bithumb is the largest cryptocurrency exchange with 20% of ether trades that are international of South Korea, and roughly 10 percent of the bitcoin trade is exchanged for the currency of South Korea.

Bithumb is the biggest Ethereum market in the world and the fourth largest market.

A cyber attack on the exchange giant that was cryptocurrency caused several of consumer accounts being compromised, and countless South Korean Won were stolen from clients accounts.
Around 10 Million Won worth of bitcoins were supposedly stolen from a single victim’s account, according to the Kyunghyang Shinmun, a significant newspaper.

A survey of users who lost cryptocurrencies in the cyber attack reveals “it is estimated that hundreds of millions of won [value of cryptocurrencies] have been withdrawn from accounts of one hundred investors.

Besides currencies, hackers have been succeeded in stealing the information such as their names, email addresses, and phone numbers, the South Korean government-funded Yonhap News reported.

However, Bithumb claims that this amount represents roughly 3% of its clients.

The market also told Yonhap that it contacted South Korea’s cybercrime watchdog on June 30, Friday after it learned of the hack on June 29.

Bithumb considers that one of its employee’s home computer was hacked in the attack and not its network and no passwords were compromised, therefore it is impossible for hackers to gain direct access.

The digital currency exchange says that the loss of funds is caused by using “disposable passwords” in order to perform digital transactions online.

“However, some clients were found to have been stolen out of due to the disposable password used in electronic financial transactions.”

While a complaint has filed with the cybercrime report centre concerning the hack of the National Police Agency, South Korean officials are now investigating the incident.

Share This

Share This

Share this post with your friends!