One of the world’s biggest Bitcoin and Ether cryptocurrencies exchanges Bithumb has recently been hacked, leading to reduction of over $1 Million in cryptocurrencies after some of its user accounts.
Bithumb is the biggest cryptocurrency exchange with 20 percent of ether trades that are global of South Korea, and roughly 10% of the bitcoin trade is traded for the currency, the Won of South Korea.
Bithumb is the largest Bitcoin exchange and the largest market in the world.
A cyber attack on the exchange giant that was cryptocurrency caused several of user accounts being compromised, and countless South Korean Won were stolen from clients accounts.
Around 10 Million Won worth of bitcoins were stolen from a victim’s account, according to the Kyunghyang Shinmun, a major local newspaper.
A survey of users who lost cryptocurrencies in the cyber assault reveals “it’s estimated that hundreds of millions of won [value of cryptocurrencies] have been pulled from accounts of one hundred investors. One member claims to have had 1.2 billion won stolen.”
Hackers have been succeeded in stealing the private information of 31,800 Bithumb web site users, such as their names, email addresses, and phone numbers that were cellular, the South Yonhap News reported.
However, Bithumb claims that this amount represents approximately 3% of its clients.
The exchange told Yonhap that it contacted the cybercrime watchdog of South Korea Friday, on June 30 after it learned of the hack on June 29.
Bithumb considers that one of its employee’s home computer was hacked in the assault and not no passwords and its network were compromised, therefore it’s impossible for hackers to gain access.
The digital currency exchange says that the reduction of funds is caused by using “disposable passwords” in order to carry out digital transactions online.
“The employee PC, not the head office server, was hacked. Personal details such as mobile phone and email address of some users were leaked,” Bithumb told the newspaper. “However, some clients were discovered to have been stolen out of due to the disposable password used in electronic financial transactions.”
South Korean officials are currently investigating the incident while a complaint has registered with the National Police Agency’s cybercrime report center regarding the hack.