Bithumb exchange hacked

By Kate Bevan, sophos

July 5, 2017

Hard on the heels of the news that users of Classic Ether Wallet had had their wallets emptied thanks to a domain hijacking came news of another cryptocurrency heist, with South Korean users of Bithumb, one of the world’s largest cryptocurrency exchanges, the hardest hit.

Bithumb, which is South Korea’s largest Bitcoin and Ethereum exchange, said it would compensate users after the site’s data after announcing that the personal details of more than 30,000 of its users were stolen in a data breach.

Bithumb initially said in a blog post (in Korean) that it would cover losses of up to 100,000 Won ($87), but some victims may well have had much more stolen, with one user claiming to have had 1.2bn Won taken.

The breach is thought to date from February, with Bithumb only discovering it and reporting it to the authorities in June. Coindesk reported that both the Korea Internet and Security Agency and the Korea Communications Commission were involved in the investigation.

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