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Bithumb claims recovery of $14M in hacked cryptocurrencies

South Korea’s cryptocurrency exchange Bithumb has claimed that it was able to significantly reduce the damages resulting from the recent hack on its platform, CoinDesk reported.

Last week, the exchange announced that it lost 35 million won (approximately $31 million) worth of cryptocurrencies to hackers. In a latest update on the matter, Bithumb said that the losses have been reduced to 19 billion won ($17 million) after it collaborated with its global counterparts to retrieve some of the lost funds.

“The reason for the decline was because we were able to quickly take custody of the cryptographic wallets of all cryptographic currencies, collaborating with the Cryptographic Fund and the Worldwide Cryptographic Exchange to preserve some of the money we expected to be seized,” Bithumb said (loosely translated).

“We will continue to work to prevent further damage and recover the damage until the incident is over.”


The exchange also disclosed the details of the funds lost in the hack. In all, 11 cryptocurrencies were affected with bitcoin accounting for the largest loss – 2,016 BTC (approximately $12 million). Other affected cryptos include ether, bitcoin cash, XRP, aelf, golem and kyber network tokens, among others.

By Shampa Mani
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