On 29th of March this year, hackers stole Cryptocurrency worth nearly $19 million from one of the most reputed South Korea based Cryptocurrency exchange, Bithumb. The very first information about the menace was disclosed by Primitive Ventures’ Dovey Wan on one of his social media account where he stated that the hackers managed to hack a number of the EOS and XRP wallets of Bithumb and transferred around 3 million EOS (equals to $13 million) and 20 million XRP (equals to $6 million) to his newly created accounts. The alleged hacker then distributed the stolen digital assets by transferring them to his various accounts created on the other Cryptocurrency exchanges like Huobi, WB, HitBTC and EXmo using ChangeNow, which is a non-custodial crypto swap platform that runs without requiring a KYC against each account.

This is not the first occurrence with Bithumb but multiple times as stated by the reports. The last cyber attack to the same Cryptocurrency exchange was in June 2018 when the hackers robbed $31 million. Prior to that in July 2017, the hackers stole EOS worth $1 million from numerous wallets that belonged to its users. The private key for both the hacker and Dovey Wan has been disclosed that revealed that the private key for the EOS hot wallet of Bithumb from where the Cryptocurrency has been robbed bears address “g4ydomrxhege” while the EOS account the hacker used to rob the digital currency bears address “ifguz3chmamg”. The hacker has divided the stolen Cryptocurrency and transferred the stolen Cryptocurrency to his accounts on various exchanges in the following manner:

  • Changelly 143,511
  • CoinSwitch: 38,725
  • EXMO: 662,600
  • Huobi: 263,605
  • KuCoin: 96,270

As per the blog post published by the company, it is still investigating the cyber attack that it believes to have performed with the help of an insider andit has

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