Bithumb Exchange will Resume Deposits and Withdrawals of XRP, Bitcoin Cash and EOS Cryptocurrency

The Bithumb crypto exchange, that was hacked on March 29, 2019, will resume deposits and withdrawals funds in three cryptocurrencies: XRP (XRP), Bitcoin Cash (BCH) and EOS (EOS). Service will be restored on May 17th.

Bithumb is working to improve safety of the system to eliminate the possibility of a hacker attack in the future. The company plans to complete this process within a month, and only after that deposits and withdrawals of all other virtual currencies will be resumed. In addition, in June, the exchange will change all deposit addresses.

A message from the trading platform indicated that Bithumb had begun to pay more attention to the safety of user assets. Apparently, the first hacker attack, which occurred in June 2018, did not make the company’s management take seriously level of security in the crypto storage. Obviously, the attackers decided to take advantage of this and hacked the site a second time.

As a result of the June attack, cryptocurrency worth $31 million was stolen; in March, hackers gained $13 million. Bithumb employees were able to return digital assets worth $14 million that were stolen last year. The location of EOS tokens worth $13 million stolen in 2019 is still unknown. The management of the exchange believes that employees of the trading platform are involved in the crime because the security service did not record any attempts to hack the system from the outside.

We want to remind you:

Top 10 Loudest Cryptocurrency Hacks in the History

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