Bithumb Hacked for Over $31 Million USD – Crypto Market Rebounds

The world's sixth largest cryptocurrency exchange by daily trade volume, Bithumb, has just been hacked for $31 million. This morning the South Korean exchange announced that hackers had stolen close to 35 million Korean won for its system. The tweet above has been translated from Korean to English and says: "[Urgent notice] to stop the front of the withdrawal service password please stop the money transfer. Today, about 35 billion in the morning, the size of the password was stolen. Your assets are securely housed in a cold wallet. For the time being, we cease to offer passwords and monetary deposits and withdrawals services." While the $31 million may not seem like such a big deal, compared to the $530 million hack at the Coincheck exchange, it's still a notable and worrying, incident. >> Coinbase Index Fund Open XRP Hacked The cryptocurrency exchange has yet to release the full details of the hack, but news has emerged that Ripple (XRP) was targeted. Based on CoinMarketCap, Bithumb accounted for over 10% of the total trade volume of XRP within the last 24 hours. Still, the hack details have yet to be announced officially, so it remains unknown if XRP was the only digital currency compromised - but official details of the hack should surface soon. Crypto Market Rebound The cryptocurrency market took a hit when the news broke but it seems to already be rebounding back. At press time, Bitcoin (BTC) is trading at $6,786 a coin, up 0.11%, in 24 hours. Ethereum (ETH) is currently trading at $539.20 a coin, up 0.54%. The total market cap is sitting just below $300 billion but could break above the mark sometime today. Featured Image: Unsplash

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