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Over $1 Million Worth Bitcoin and Ether Stolen, Largest Cryptocurrency Exchange Hacked! | Cyberops

Over $1 Million Worth Bitcoin and Ether Stolen, Largest Cryptocurrency Exchange Hacked!

By Prempal Singh 0 Comment July 7, 2017

Among the world’s most significant Bitcoin and Ether cryptocurrencies exchanges Bithumb has recently been hacked, leading to loss of more than $1 Million in cryptocurrencies after a quantity of its user accounts affected.

Bithumb is South Korea’s most significant cryptocurrency exchange with 20% of global ether trades, and roughly 10% of the global bitcoin trade is exchanged for South Korea’s currency.

With a reported 75.7 percent share of the Southe Korean bitcoin market quantity, Bithumb is one of the five greatest bitcoin exchanges in the world and hosts over 13, 000 bitcoins worth of trading volume daily, or roughly 10 percent of the global bitcoin operate. The exchange also website hosts the world’s most significant ether market.

While trade in the South Korean received currently makes up your fourth most significant currency market for bitcoin, trailing the US dollar, Chinese yuan and Japanese yen, the won market is Ethereum’s largest. Bithumb accounts for around 44 percent of South Korean ether trading.

In April 2017, a smaller South Korean cryptocurrency exchange was hacked and lost huge amount of money.

Other options besides storing funds with a third party for ethereum users include storing the private keys that control their funds on hard disk drives that are not linked to the internet. That isn’t as convenient (or maybe even beneficial, if if you’re each day trader), but provides hackers fewer openings.

Relating to sources, this may be just the start of things to come. As ethereum and cryptocurrencies generally speaking continue to surge in value and gain mainstream attention, more cyber-terrorist will most definitely appear and try to take advantage.


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