The exchange has posted on its blog that it will resume operations after the system was halted due to a hack it suffered in March. Momentarily, only three cryptocurrencies will be traded on the platform, namely Ripple (XRP), Bitcoin Cash (BCH) and EOS. This move was implemented with the role to “minimize the inconvenience to members until the resumption of deposits and withdrawals.“
Bithumb stated in its post that:
“At the moment when the security enhancement that we anticipate will be completed, deposit and withdrawal will resume in about a month. We will proceed with the resuming sequentially considering the price difference and service stability.”
The exchange had 3 million EOS stolen in a hack which took place on March 29th, the sum being valued at the time at USD 13 million. Dovey Wan from Primitive Ventures revealed that the hackers managed to siphon EOS out of the exchange’s compromised hot wallet and trade them on other exchanges.
The CEO of Binance reported that at the time of the hack his exchange did not receive any of the stolen funds. Binance also suffered a major hack at the beginning of May, losing USD 40 million worth of Bitcoin, but fortunately, the sum was covered by their security fund SAFU.
Bithumb also stated that they will fully resume all trading operations after June, and the current operation will be changed:
“When we resume deposits and withdrawals after june, the deposit address of all cyptocurrencies, including those that have already been resumed, will change. Please be sure to issue new deposit addresses.”
Bithumb has been working alongside various security companies and six exchanges in order to find out where the stolen funds are.
Featured Image: CoinDesk
