In the second such case in two weeks in South Korea, cryptocurrency exchange Bithumb was hacked into and a large amount of tokens stolen from its servers. The company made the announcement on its website Wednesday morning, saying it was suspending all services till further notice.
The total value of crypto tokens that were stolen was about 35 billion won (roughly $31.5 million). Bithumb said it would cover any losses suffered by its customers, and that all assets were being transferred to a cold wallet, which refers to storing them offline. Keeping them away from the internet ensures they can’t be stolen, even if the company’s servers were still vulnerable.
The hack took place sometime between late night Tuesday and early morning Wednesday (South Korean time), according to Bithumb’s statement, which did not specify the exact cryptocurrencies affected.
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