Hacked South Korea[1] crypto exchange Bithumb[2] has lowered the estimated amount of money lost in the hack from 35 billion won (about $31 million) to 19 billion won (about $17 million), according to a support announcement[3] Thursday, June 28.
Bithumb first reported[4] the hack on June 20, temporarily suspending all deposits and withdrawals. The South Korean Ministry of Science and Technology has since launched[5] a probe into the causes behind the hack.
Bithumb writes today that the “main reason” for lowering the loss estimation to $17 million is the “ongoing participation, support, and cooperation of the cryptocurrency exchanges and cryptocurrencies foundations across the world,” also noting their removal of their crypto holdings from a hot wallet to a cold wallet as helping stem the damage.
Today’s announcement lays out the 11 cryptocurrencies that were stolen, with 2,016 Bitcoin (BTC[6]) taken, worth about $12.3 million by press time, and 2,219 Ethereum (ETH[7]) taken, worth about $965,000 by press time.
Bithumb hack damage report (total value shown in won). Source: official announcement[8]
Bithumb still asks users to refrain from making any deposits until a further announcement is released.
Crypto exchanges have reacted differently[9] to hacks, with some situations, like Bithumb, resulting in a promise to reimburse all customers affected, and others, like BitGrail[10], leading to legal battles and a seizure of the firm’s wallets.
