Crypto Exchange Bithumb: Korean Crypto Exchange on Its way to Recover Hacked Funds

South Korea’s second largest crypto exchange Bithumb, lost about $31 million between Tuesday and Wednesday morning. However, Bithumb might just be on his way to recover the missing fund.
On its website the crypto exchange said that although it has reported losses equivalent to $31.5 million to the Korea Internet & Security Agency (KISA), it may ultimately be able to lower that figure.
The crypto exchange bitchumb stated: “We have announced about 35 billion Korean won of damages … Bithumb is reducing the amount of damage through ongoing damage recovery, future figures are expected to be lower.”
It explained that it was working with cryptocurrency exchanges and others to prevent further losses and retrieve the funds.
Further adding that the exchange keeps company and customer funds separately, the update said: “The company believes that you can use Bithumb safely.”
Read Also: Swap your Euros for bitcoin or ethereum In Amsterdam Airport
On the way to recover the hacked funds, the crypto exchange Bithumb is not alone. Other agencies like Korea Communications Commission, KISA and the National Police Agency are all helping to investigate the matter. This is not the first time an exchange platform is been hacked and it certainly won’t be the last.
Aside from exchange platforms, investment websites and bitcoin wallets are have been under the radars of hackers in recent times. To keep your bitcoin and other cryptocurrency safe please be sure to keep your private keys secure.

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Written by Russell


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