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Bithumb Shared ‘Loss Figure’ Suffered After Recession and Hack Incident


One of the largest cryptocurrency exchanges from South Korea suffered a massive loss within a year. After experiencing the tough year of Hack, Bithumb reports $175 Million in Losses.

Whenever any crypto exchange experiences loss or hack incident, it puts millions of funds in the riskier zone which creates insecurity among other crypto enthusiasts towards their respective exchanges. As such, the vague scene of Cryptopia, QuadrigaCX, Bithumb, and other such exchanges bring a sense of insecurity among millions of those who believe in the future of cryptocurrency.

Per the Korean media, following last month’s hack, Bithumb exchange conducted the professional external audit of its funds. According to official sources, the company had lost around 205.5 billion won in 2018 which is almost $175 million. These figures were published by BTCKorea.com, the parent organization of Bithumb exchange on April 11, 2019.

It says that the attacker stole 35 billion won and early in 2019, the company had…



Read Full Story : Coingape

2019-04-11 18:35:54

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