South Korea’s Major Crypto-Currency Exchange Bithumb Becomes Victim of Hack

The globally 4th biggest crypto-currency exchange Bithumb in terms of volume substantiated that it encountered a security breach when an anonymous hacker managed getting off with a still to be determined sum of money.

Evidence about things going wrong emerged, end week of June, when South Korean consumers numbering the maximum of Bithumb users began saying via the country's own social network that they were losing huge sums of money from their Bithumb A/Cs.

In the end week of June, theft occurred of customer data along with apparently "billions" of South Korean currency 'Won' from the country's biggest exchange where the ether and bitcoin crypto currencies are bought and sold.

Bithumb is the 2nd biggest exchange of ethereum after OKCoin of China. Yonhap News reliant on government funding reported of Bithumb reaching the Internet crime watchdog of South Korea late last week on learning about the hack. Yonhap reports that someone hacked the home PC of certain Bithumb employee and stole details of about 30,000 customers. However, passwords weren't seized, the exchange said. Moreover, authorities in South Korea are presently probing the incident, Yonhap further reports. Motherboard.vice.com posted this on the Internet dated July 4, 2017.

A local media on pressurizing Bithumb was told that the hack took place following a Bithumb staff having his PC hacked that resulted in the theft of information on 31,800 Bithumb consumers - approximately three per cent of the total user-base of the exchange.

If money was actually stolen out of the accounts of Bithumb users then the hack once again reminds why experts make the contention that wise people should not hand over their money to an intermediate business firm. During April 2017 itself, hackers targeted another crypto-currency exchange of a smaller size in South Korea, stealing millions of USDs off client accounts.

For safety, ethereum consumers can keep their personal keys used for handling their funds onto their computers' Internet detached hard drives. As ethereum as well as crypto-currencies as such keep on escalating in value as well as gain mainstream attention, it is certain that more hackers will move into for the crime of theft.

» SPAMfighter News - 7/7/2017