Crypto News Flash #190: Bithumb Cryptocurrency Exchange Has Been Hacked For $30 Million
It is a well-known fact that cryptocurrency exchanges are prone to cyber attacks and hacks. If you're a crypto investor or trader, then you must know that your funds will never be safe on cryptocurrrency exchange. You better put them into Hardware wallet for safeguard. A lot of exchanges have been hacked in recent times.
Bithumb, a South-Korean cryptocurrency exchange, said recently that it was temporarily suspending all the deposits and withdrawals as $30 Million worth of coins have stolen from their exchange.
Bithumb team tweeted last night that stolen coins would be recovered from their own reserves and all the user's assets are being transferred to a 'cold wallet'. Although, they didn't say when the deposits and withdrawals be resumed.
Bithumb is a major cryptocurrency exchange and one of the busiest trading center among virtual coins. Any theft in this type of exchange definitely impacts the whole crypto space and for sure, $30 Million is not a small amount.
After the widespread of the news, crypto market responded to it pretty negatively. Bitcoin fell from $6750 to $6580 while Ethereum fell from $535 to $521
Currently, the whole market has again turned red and no significant Bullish movement can't be seen anywhere.
Let's see how market turns out to be next.
Thanks for reading ...!!
Really Very Bad News