On the morning of Saturday, March 30, the Bitcoin exchange Bithumb announced that it had stopped accepting deposits and withdrawing funds. The South Korean platform went to this step after its “trading monitoring system revealed anomalous conclusions of cryptocurrency”.

[Notice?]
We’re deeply apologize and make sure that you’re safe.
For more details >> https://t.co/dOvT78P0sK

– Bithumb (@BithumbOfficial) March 30, 2019

One of the first who paid attention to the anomalous transfer of funds from Bithumb wallets was Prima Ventures partner Davie Van. She wrote that more than 3 million EOS were withdrawn from the cold wallet (about $ 12.6 million at the current exchange rate). Wang later clarified that this is most likely a “hot” wallet.

BREAKING ???

Bithumb is hacked, at its EOS cold storage level !!! Over 3million EOS has been transferred out ???

Detail to be reported for confirmed by Bithumb

– Dovey Wan ? (@DoveyWan) March 30, 2019

The information was confirmed by the security company responsible for auditing the accounts of Bithumb.

According to Van, the theft of funds occurred after the private key to the Bithumb account was stolen in the EOS blockchain with the user name g4ydomrxhege. She also led a list of exchanges on which the stolen coins were withdrawn.

With the number of stolen fund distribution (the number of $ EOS ) and the hacker's address still holds 1.9Million $ EOS

EXMO: 662,600
Huobi: 263,605
Changelly 143,511
KuCoin: 96,270
CoinSwitch: $ 38,725 EOS DUMP ???

– Dovey Wan ? (@DoveyWan) March 30, 2019

Some time later, Davie Wang published a more detailed analysis of the transfer of stolen EOS coins:

Stolen fund flow analysis:

EOS are sent to @Exmo_Com @HuobiGlobal @kucoincom @coinswitch @ChangeNOW_io @hitbtc Changley, and a little bit to @binance @hitbtc and BW pic.twitter.com/shT1Ei4uRC

– Dovey Wan ? (@DoveyWan) March 30, 2019

Most of the coins ended up on EXMO, Huobi, KuCoin, CoinSwitch, ChangeNOW, HitBTC and Changelly. Additionally, less significant amounts were withdrawn to Binance and BW.

Against the background of these reports, the price of EOS has undergone a certain correction, losing 2.5% per day relative to the USD. At the same time, with respect to BTC, the cryptocurrency as a whole remains stable.

Additionally, with reference to the post of one of the commentators, Van wrote that the Bithumb XRP wallet was also hacked. From it 20 million XRP (about $ 6 million) were deduced.

From a comment below .. $ XRP wallet is hacked too ..

XRP hacked wallet address – rLaHMvsPnPbiNQSjAgY8Tf8953jxQo4vnu
stolen 20,000,000 xrp (worth $ 6,000.00)

OMFG ??♀️??♀️??♀️

– Dovey Wan ? (@DoveyWan) March 30, 2019

Considering that this is not the first Bithumb hacking case , Davi Van writes that the previous lesson, apparently, hasn’t taught the exchange so much. Wondering how the exchange could store a cryptocurrency in such a purse for such a large amount …

This is just insane –

1. It’s literally learned from last time

2. Why keeping $ 15m in a single wallet ?? high amount withdraw needs lengthy verification anyway ..

Will keep everybody posted with @chiachih_wu @evilcos

– Dovey Wan ? (@DoveyWan) March 30, 2019

… she notes that Bithumb is the only major cryptocurrency exchange in South Korea that currently has no banking partner, and also wonders how she could get a license for regulators to operate.

This is the second time it was hacked with a loss of $ 30m.

– Dovey Wan ? (@DoveyWan) March 30, 2019

The second in a row hacking Bithumb may also call into question the plans of the exchange to enter the US IPO .

Follow BlockchainJournal on Twitter !