Post
Topic
Board Bitcoin Discussion
Re: Billions stolen from South Korean Bitcoin exchange
by
aTriz
on 06/07/2017, 05:56:27 UTC
Bithumb, the fourth largest Bitcoin exchange in the world was recently hacked resulting in Billions of Won being stolen.

Read more: https://blog.coinspectator.com/2017/07/04/billions-stolen-from-south-korean-bitcoin-exchange/

I'm really surprised at the fact that they are one of the leading exchanges in terms of volume not only in UKorea but rather in the entire world and they still can't afford apparently to get a cold storage going on to prevent these sorts of hacks. I mean storing in hot wallet is convenient, but how is it wise to store so much bitcoin in hot storage? IT just seems to be very bad management to me.

The price doesn't seem to be negatively affected by this, nor the Bithumb exchange. I wonder if they decide to release the wallet address to the public because then we can see if he transfers the coins to an exchange to cash it out(if he isn't smart enough to use a mixer, that is).

On a side note: Bithumb prices are still consistently +100 USD from the rest of the exchanges.