The Crypto Market Operates Stable After Bithumb’s Loss of Cryptocurrencies

Bithumb, one of the most popular crypto exchanges in the world and in South Korea, has been attacked once again. The company blocked withdrawal and deposit services for a short period of time and updated the community on the matter in a blog post.

Bithumb Hacked: Which Is The Effect In The Market?

Two days after the attack that Bithumb experienced in which they lost XRP and EOS, the market seems not to have realized about it. After the exchange was affected by this issue, the founding partner at Primitive, Dovey Wan, released a Tweet in which she informed about this situation.

She cites the security firm that is auditing Bithumb and that confirmed the information. This is the second time that the exchange experienced an important attack in less than a year. Back in June 2018, the platform lost $31 million in virtual currencies. Despite that, the company received the fiat license from South Korea.

As reported by Wan, their private key was stolen on its EOS account called g4ydomrxhege. The attacker transferred all the EOS to ifguz3chmamg, another EOS wallet. However, the funds were later moved to other cryptocurrency exchanges. The XRP wallet was also hacked. The wallet lost 20,000,000 XRP, worth $6,000,000. The address is the following: rLaHMvsPnPbiNQSjAgY8Tf8953jxQo4vnu

Bithumb informed that they have spotted an “abnormal withdrawal” from one of their wallets. The firm mentioned that all “members’ assets” were under the protection of a cold wallet. Apparently, the attack involved “insiders” and they decided to contact local authorities and cybersecurity firms.

The cryptocurrency market did not crash or something similar as it happened in the past. The market is becoming more mature and it seems that also more liquid. The news of this attack did not affect the whole market and could be related to the fact that the community is already processing negative news in a rather positive way.

For example, when the Bakkt platform was delayed several times in the past, the market did not move or react to it.

Now, XRP is being traded around $0.31 and it has a market capitalization of $12.91 billion. Meanwhile, EOS has a market capitalization of $3.76 billion and each coin can be purchased for $4.15.

Live Ripple (XRP) Price:

1 XRP/USD =$0.2865 change ~ -1.32%

Coin Market Cap

$12.4 Billion

24 Hour Volume

$612.68 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0038

Live EOS (EOS) Price:

1 BTC/USD =$11,614.3060 change ~ 0.30%

Coin Market Cap

$214.34 Billion

24 Hour Volume

$7.47 Billion

24 Hour VWAP

$11.4 K

24 Hour Change

$34.2869

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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