Trading June 29, 2018 Daily Hodl Staff

Bithumb Restores Millions in Stolen Bitcoin, Ethereum, Bitcoin Cash and Other Cryptocurrencies

Bithumb says it has recovered about half of the cryptocurrency stolen by hackers in a recent cyber attack.

“The main reason for the reduction of the damage is due to the ongoing participation, support and cooperation of cryptocurrency exchanges and cryptocurrency foundations across the world.

Also our quick response to the cyber-attack by removing cryptocurrencies from hot wallet to cold wallet effectively contributed to reducing the overall damage. At this moment we will continue our recovery process as well as implementing preventative measure until this incident is fully concluded.”

On June 19, the leading South Korean crypto exchange announced 35 billion won worth about $31 million was missing. Since then, the company has recovered about $14 million of the stolen funds.

Bithumb has provided updated numbers on the exact amount of cryptocurrency still missing.

Bithumb says it’s not ready to re-enable deposits and withdrawals on its platform, and is asking its customers to stop trying to transfer cryptocurrency onto the exchange.

“We have officially announced to our customers asking not to make any deposit for the time being, yet deposit orders are still made. We would like to strongly ask our customers not to deposit any fund until the whole process of deposit service reformation is complete and until [a] further announcement is given.”

Bithumb has promised to fully reimburse all losses in customer funds as a result of the hack.