The company based in Seoul, revealed this fact through several messages on Twitter. In parallel he confirmed that the stolen coins would be covered by the Bithum’s own reserves. With the house stolen, this company transferred all users’ assets to a different wallet.
The transferred assets were quickly put into a so-called cold wallet, a method used for the long-term storage of a large amount of encrypted money/currency and that is only connected to the Internet when a transaction is made – to reduce the likelihood of more funds being.
At the moment, this is already the third hack to Bithumb – the largest case of crypto-theft in South Korea – and the second major incident to have reached a crypto-currency exchange after the Coinrail invasion on June 10.
Following the news of the Bithumb invasion, the cryptocurrency ‘s value fell sharply in the markets before recovering quickly at the end of the day.
Meanwhile, Seoul police began an investigation into the theft, including collecting data from the company’s computers.
Recent attacks on the encrypted currency market prompted the public to urge the government to implement tougher regulations.