FOMO Is Back – Bithumb Hacked, $30 Million Allegedly Gone

Another day, another cryptocurrency exchange hack. Bithumb just notified the world that it has been hacked and over 30 million dollars worth of cryptocurrencies are allegedly stolen from their accounts.

12:49 UTC on June the 19th cryptocurrency exchange Bithumb released a statement that they will be suspending deposits because of a change in wallets with their exchange services. Usually when we talk about changes in exchange’s wallet systems, we talk about improved security, but in this particular Bithumb case, it all went south and hackers smelled opportunity.

It was only 12 minutes after the deposit/withdrawals were suspended when Bithumb released another announcement, telling their twitter followers that “some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.” Now, the Tweet has been taken down by Bithumb.

What happened was one of the crypto wallets most likely contained malicious code, but we still don’t have exact facts straight from the source.

Litecoin’s Charlie Lee reminded his followers that they should always keep their funds in personal crypto wallets.

Another day, another hack. Hopefully BitThumb is able to cover this amount, though $30MM is not a small amount.

As I've said many times, be smart and only keep on exchange coins that you are actively trading. It's best to withdraw right after trading. https://t.co/8YpVcHx8tK

— Charlie Lee [LTC⚡] (@SatoshiLite) June 20, 2018