Bitcoin,Ripple price fall after $32 Million stolen from Korean Exchange

Bitcoin,Ripple price fall after $32 million stolen from korean exchange bitcoin price decline as much as 2% after south korean exchange bithumb say that hackers stolen about $32 million

Bithumb, ranked No.7 glonally by traded value on Coinmarketcap.com,said on wednesday that hackers stolen about $32million and Ripple was among the coins taken The exchange halted cryptocurrency deposits and withdrawals, said it will compensate victims and moved investor assets to a so-called cold wallet, which is disconnected from the Internet and less vulnerable to theft

Bitcoin, the largest cryptocurrency, dropped as much as 2% and was trading at $6,588 as of 12.15pm in Hong Kong, bringing this year’s decline to 54%, according to Bloomberg composite pricing. Ripple, Ethereum and Litecoin also retreated, along with some Asia-listed stocks with exposure to digital currencies
Bithumb said on Wednesday that it reported the theft to the Korea Internet & Security Agency and that officials there are investigating.

The hacks in South Korea show “how ill-prepared a lot of the exchanges still are across large markets,” said Vijay Ayyar, the Singapore-based head of business development at Luno, a cryptocurrency exchange. “The overall market is seeing a lot of regulatory action and incidents like these will only hasten the process.