It’s not a joke: Bithumb hacked again, reportedly lost around $19 million

[mlawson71]

This is no April Fools joke, one of the largest South Korean cryptocurrency exchanges, Bithumb, announced it was hacked. Again. Hackers are thought to have made off with around $19 million worth of cryptocurrency in EOS and XRP, and the exchange suspects an insider job.


The company operating Bithumb, BTC KoreaCom Corporation, stated that an “abnormal withdrawal” of the cryptocurrency was first spotted through its monitoring system at 22:00 Korean time (13:00 UTC) on Friday, March 29. After noticing this, the exchange allegedly “secured all the cryptocurrency from the detection time with a cold wallet and checked them by blocking deposit and withdrawal service.”

 

[maxinger]

well. Cyptocurrency is meant for low level security transaction.

 

[Peter10]

why are we not seeing the headline "Cryptos are the future of currency" anymore?

 

[schweiz]

well. Cyptocurrency is meant for low level security transaction.

Or in otherwords: for small amount payments.
Which would mean it can never replace the traditional currencies.

 

[d08]

It's teh future, yoo all stoopid.

 

[mlawson71]

why are we not seeing the headline "Cryptos are the future of currency" anymore?

The initial lustre has faded a bit, I think.

 

[Trader Curt]

Yep, this kind of problem is common with low security exchanges, or centralized exchanges. It's a bummer, but it's part of the game...

 

[Pekelo]

[yawn]

Otherwise known as Tuesday?

 

[mlawson71]

Sadly these hacks have started happening more and more often, haven't they?

 

[maxinger]

The way I see, low security blockchain technology has been flawly designed to be hacked and hacked and hacked till total and complete demise.