Cybersecurity
Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen
- Bithumb is second exchange in as many weeks to report a theft
- Security fears have contributed to a crypto selloff in 2018
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Cryptocurrencies dropped after the second South Korean exchange in as many weeks said it was hacked, renewing concerns about the safety of digital-asset trading venues.
Bithumb, ranked by Coinmarketcap.com as the world’s seventh-largest crypto exchange by traded value, said on Wednesday that hackers stole about 35 billion won ($32 million) and that Ripple was among the coins taken. The exchange halted cryptocurrency deposits and withdrawals, said it will compensate victims and moved investor assets to a so-called cold wallet, which is disconnected from the Internet and less vulnerable to theft.