Breaking News: Bithumb Crypto Exchange Hacked

The South Korea cryptocurrency exchange, Bithumb, has admitted it was subject of a hacking attack via Twitter. All deposit and withdrawal services were suspended after about $30 million worth of cryptos was stolen. Bithumb assured its users that all stolen coins would be paid with Bithumb's own reserves and that all users' assets were being transferred to a "cold wallet".

The exchange did not say when it would restart its deposit and withdrawal services. Since the announcement, Bitcoin has dropped in price from $6,730 down to $6,630. 2018 has been characterized by multiple exchange hacks with Coinrail being the most recent, right before Bithumb. Usually, this kind of news tends to have a negative impact on the market but hopefully it will recover soon.