South Korea's Bithumb loses $32 million in digital money heist, bitcoin falls

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Bithumb, ranked seventh in the world by traded value on Coinmarketcap.com , said on Wednesday that about 35 billion won ($32 million) worth of coins were stolen.

South Korean exchange Bithumb has been targeted by hackers for the second time in a year, this time losing over $31m in cryptocurrency. However, Bithumb reportedly moved a significant amount of Ether tokens to its offline wallet.

Following the attack, Bithumb has stored all assets in "safe cold wallets", according to Reuters.

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Hackers have stolen cryptocurrencies worth $US30 million from South Korea's leading virtual currency exchange, Bithumb.

As of press time, Bithumb still is seeing over $300 million in 24-hour trading volume on its platform, making it now the sixth largest exchange in the world, data from CoinMarketCap shows.

"Due to the increasing safety issues, we are changing our wallet system", Bithumb said on Twitter.

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Local investors have claimed that Bithumb was aware of the hacking attack since June 16 and its security team and developers tried to prevent the breach from affecting its wallet. It also said that it would fully compensate all of its customers affected by the hack. "All deposit and withdrawal service will be stopped to make sure the security".

On the Luxembourg-based Bitstamp, bitcoin BTC=BTSP was last trading at $6,590.00, extending losses as a series of intrusions on cryptocurrency exchanges in recent weeks sparked concerns over security. The Coinrail hack coincided with a significant dip in the prices of cryptocurrencies, with Bitcoin losing $1,000 in a matter of hours.

Hackers have made off with 35bn won (£24m) worth of cryptocurrency.

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Bitcoin, the largest cryptocurrency, dropped as much as 2 percent and was trading at $6,598 as of 10:06 a.m.in Hong Kong, bringing this year's decline to 54 percent, according to Bloomberg composite pricing.

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