Breaking: $31 million cryptocurrencies disappears from Bithumb

Breaking: $31 million cryptocurrencies disappears from Bithumb

Another blow as hit the cryptocurrency community as Bithumb, South Korea’s largest exchange said about $31 million worth of digital currencies has vanished from its system.

At about 9 a.m. on Wednesday, Bithumb informed the public in a Twitter post that it was temporarily suspending deposits and changing its wallet system due to increasing safety issues. The exchange apologized for the incident, asking its customers “not to deposit any funds into Bithumb wallet addresses.” This second attack in less than a month highlights the vulnerabilities faced by cryptocurrency exchanges.

“The loss will be compensated by Bithumb’s own reservoir,” the exchange told Yonhap News and also stated that “all of clients assets in safe cold wallet,” which operates on platforms not directly connected to the internet.