The CryptoCurrency Exchanged named as “Bithumb” which is the fourth largest by number and volume has been reported to be hijacked by unknown hijackers. They have been able to take off undetermined amount of funds. Bithumb has a very large user base in South Korea and many of the Korean users reported this loophole yesterday on 29th of June. Many of the users reported about the scams on local social sharing websites and many of them has claimed to lose large funds stored in their “Bithumb” account. After these complaints from North-Korean users, the company admitted this security breach in their official statement.
Details about the Bithumb Security Breach
The company revealed to the local media that the hijacker first attacked the personal computer of a Bithumb employee and got access and details of 31,800 bitcoin users. This is about 3% of the user base of Bithumb. They got access over details such as customer names, email address, mobile phone numbers and so on. The loss could be very severe as some of the users have claimed loss of more than 10 million won ($8,700) worth of crypto-currency. The company still hasn’t confirmed about the exact of stolen funds.
The company has agreed to pay a compensation of up to 100,000 won per affected users. However, the entire amount damage is still unknown. Interestingly, it has been noticed that cyber crooks have stolen both Bitcoin as well as Etherum from targeted users account. Notably, Bithumb has the second largest userbase of Etherum trading platform by volume. Reportedly, the company has contacted law enforcement and informed them about this security breach and data theft. Interestingly, South Korea had seen similar kind of security breach two months ago when their Bitcoin exchange Yapizon was hacked and they managed to steal 3816.2028 Bitcoin which is over $5.5 million.