Charlie Lee Believes that the Hacking of Bithumb and the Price of Bitcoin Are Not Connected

lee bithumb

The attack on the Korean digital currency exchange Bithumb became the most discussed thing among the cryptocurrency community. Its most prominent representatives obviously could not stay aside and expressed their opinion on what had happened. One of them was the creator of cryptocurrency Litecoin.

Charlie Lee is sure that, from the technical side, the hacker attacks of exchanges do not change the essence of the world’s leading digital coins. The price rate can slightly drop for a short period of time, but nothing major is going to happen.

His words concerning this issue are:

Whenever there’s an exchange hack, people get scared and the price drops. It happens all the time. The thing is it doesn’t really change the fundamentals of Bitcoin and other cryptocurrencies.

Nevertheless, Lee finds the increased hacker attacks a serious problem which should be addressed and fixed. He thinks that most of the safety measures are currently powerless to prevent money theft or information leakage.

We would like to remind you that the government of South Korea is already working on the prevention of such disastrous attacks in the future.

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