$31 Million Heist

Bithumb Crypto Exchange Hack: What We Know (And Don't) 

CoinDesk Daily is sponsored by  June 20, 2018 "Ben Franklin may have discovered electricity but it's the man who invented the meter who made the money."  – Earl Warren Got this from a friend? SUBSCRIBE HERE THE FEATURE Bithumb $31 Million Crypto Exchange Hack: What We Know (And Don't) On Wednesday, roughly 35 billion Korean won (around $31 million) in cryptocurrency was stolen by hackers from the South Korea-based exchange Bithumb. Although the breach may not be as severe as the $530 million hack of the Coincheck exchange earlier this year, the fact that Bithumb now ranks as the sixth biggest trading venue in the world still marks it as a notable, and worrying, incident. While more details about the heist have surfaced in the hours following the event's confirmation, providing a glimpse into Bithumb's internal operations, some important questions about the hack still remain unanswered. This morning, CoinDesk offers readers a rundown of what we know about the hack so far, and some details we still don't. Read more Tweet Share ⭐ CoinDesk Weekly Sponsor ⭐   Your Data. Your Life In the current system, your personal data is sourced, held, used and swapped by third-party providers. The Pillar Project is an ambitious project to return ownership of personal data to you. We do this through decentralized blockchain technology, starting with a token wallet. Learn More Wait, there's more: Brazil's Central Bank Plans Blockchain Data Exchange for Regulators Banco Central do Brasil is building a blockchain platform to ensure the authenticity of data exchanged between financial authorities. Bitcoin Price Steady Above $6K Despite Bithumb Hack Bitcoin remains on the hunt for $7,000 despite news that the a South Korean crypto exchange has been hacked. A UK Exchange Is Launching Litecoin Futures Trading A month after listing ethereum-based futures for trading, U.K exchange Crypto Facilities is now launching a derivative product for litecoin. Bithumb $31 Million Crypto Exchange Hack: What We Know (And Don't) Hours after an exchange breach that saw $31 million stolen from Bithumb, more details have surfaced, but some questions still remain unanswered. EOS Locked 7 Accounts and This Has Implications for Everyone in Crypto Seven EOS accounts were frozen to prevent token theft. But does this seemingly moral decision spell havoc for the broader crypto market? Nasdaq Blockchain Trial Resolves Margin Calls 'in Minutes' A group of industry stakeholders is trialing a blockchain system designed to more efficiently cover margin calls in securities trading. Crypto Exchange Bithumb Halts Withdrawals After $31 Million Hack Bithumb, one of the largest crypto exchanges in South Korea by trading volume, confirmed a hack of $31 million worth of cryptos on its platform today. $800 Million: ICON's Token Swap to Take Place Within 24 Hours ICON is gearing up for its token swap which will see its ERC20 tokens exchanged for mainnet ICX coins. Tron Bought BitTorrent And Crypto Won't Stop Talking About It The founder of a smaller cryptocurrency called Tron is acquiring BitTorrent for $120 million and social media is alight over the real reason "why." Bitcoin Is 'Not For Me' Says Goldman Sachs CEO For Lloyd Blankfein, bitcoin just isn't his thing, according to new comments made Tuesday. BitTorrent Has 'No Plans to Change' After $120 Million Tron Acquisition BitTorrent said it has "no plans to enable mining of cryptocurrency now or in the future" in a statement on Tuesday. 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Crypto Trading Without License Is 'Illegal,' Cambodian Regulators Say Buying, selling, trading and settlement of cryptocurrencies is now illegal without a license, according to a statement from Cambodian authorities. Bitcoin, DLT and Bank Ledgers: A Central Banker's View The man in charge of China's quest to research and deploy distributed ledgers outlines his view on the breakthroughs of bitcoin and potential of DLT. Former Indian Lawmaker Declared 'Offender' in Bitcoin Extortion Case A former Indian politician allegedly involved in a $1.3 million bitcoin extortion case has been declared a "proclaimed offender" by a local court. $7k? Bitcoin Price Looks North After Six-Day High Despite the bearish chart setup, bitcoin rose to a six-day high on Monday, putting a corrective rally to $7,000 back on the map Go to CoinDesk We're taking Consensus on the road      Join us on September 18-20 at the Marina Bay Sands in Singapore for the first international Consensus event.  We're excited to join TechXLR8 Asia and their multiple events, including IoT World Asia, 5G Asia, the AI Summit and more.  Get your ticket to Consensus: Singapore or the full TechXLR8 experience and join us in September. Register now.  BTC: $6,627.55   -1.63%  ETH: $524.51  -2.53% 8:30 AM EST - More price details 👋 JOBS IN BLOCKCHAIN 👋 Thinking of joining the blockchain sector? Already here, but looking for a change? Check out CoinDesk's careers board for opportunities in companies of all sizes, covering a range of areas and expertise.  Copyright © 2018 CoinDesk, All rights reserved. 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