Home cryptocurency Korean Crypto Exchange on his way to Recover Hacked Funds

Korean Crypto Exchange on his way to Recover Hacked Funds


South Korea’s second largest cryptocurrency exchange Bithumb, lost about $31 million between Tuesday and Wednesday morning. However, Bithumb might just be on his way to recover the missing fund.

On its website the crypto exchange said that although it has reported losses equivalent to $31.5 million to the Korea Internet & Security Agency (KISA), it may ultimately be able to lower that figure.

The exchange stated: “We have announced about 35 billion Korean won of damages … Bithumb is reducing the amount of damage through ongoing damage recovery, future figures are expected to be lower.”

It explained that it was working with cryptocurrency exchanges and others to prevent further losses and retrieve the funds.

Further adding that the exchange keeps company and customer funds separately, the update said: “The company believes that you can use Bithumb safely.”

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On the way to recover the hacked funds, Bithumb is not alone. Other agencies like Korea Communications Commission, KISA and the National Police Agency are all helping to investigate the matter.


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