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Several months after the Cryptopia debacle and just days after the DragonEx imbroglio, reports and blockchain data suggest that Bithumb, the largest cryptographic exchange in South Korea, was (again) hacked for a large amount of EOS and potentially XRP.
The last time the Korean stock market was attacked, it lost about $ 30 million (of which $ 14 million was subsequently recovered) and was charged with closing its deposit and withdrawal services for months.
Related Reading: Latest News: Bithumb hacked for $ 30 million cryptocurrency and market declines
Bithumb hacked again, this time for more than $ 10 million worth of crypto
According to Dovey Wan of Primitive Ventures, which cites data from local blockchain badysis teams, cybersecurity companies and other sources, Bithumb's EOS portfolio was hacked on Friday, resulting in a three million dollar leak. of EOS chips. This amount of crypto, for those who are asking questions, is currently valued at $ 12.5 million at the time of writing this article.
BREAKING
Bithumb is hacked, at the level of his cold storage EOS !!! More than 3 million EOS have been transferred
Detail to be communicated, confirmed by the security company that conducts the audit of Bithumb
– Dovey Wan ? (@DoveyWan) March 30, 2019
After a preliminary review of the affected portfolio, it appears to be Bithumb's hot portfolio rather than its cold storage system, which was the subject of scrutiny during the latest security incident on the property. platform.
The reason why badysts suggest that it's a hacking is due to the distribution of the three million EOS, which were sent to stock exchanges such as EXMO, Huobi, Changelly, KuCoin and CoinSwitch. Interestingly, however, there remains 63% of pirated funds in the attacker's purported portfolio.
According to CoinDesk Korea, which apparently confirmed the report, Rohan of EOSauthority seems to be sure that Bithumb's private key relating to the aforementioned portfolio has been stolen. Bithumb would have since contacted other trading platforms, authorities and senior instances of the EOS ecosystem, with the aim of mitigating effects on the crypto industry in the broad sense.
Since the suspicious transaction, Bithumb has closed its portal of deposits and withdrawals, citing the need to "provide a more stable service." The announcement of this event did not specifically mention the word "hacking" or "EOS," but many argue that the hacking deadlines and the abrupt maintenance period agree well.
[Notice]In order to provide a more stable service, perform a temporary verification of the Crypto-Currency Deposit and Withdrawal Service.
For more details >> https://t.co/eF0tWnolvF– Bithumb (@BithumbOfficial) March 29, 2019
Will the producers of EOS blocks act?
While for most other crypto-currencies, especially Bitcoin, these so-called pirated transactions would be irreversible, for EOS this could be changed. For those who missed the memo, the EOS Block Producers (BP), which are the equivalent of Bitcoin miners, have the ability to cancel transactions and freeze accounts in extreme situations.
Nine months ago, BP EOS42 claimed to have blocked seven accounts. A few months later, users reported to Reddit that a cryptographic platform arbitrator was expected to be able to cancel a transaction that occurred without the owner of the explicit account authorization. It is unclear whether there is an ecosystem in the ecosystem with the same capabilities.
Even if there is a third party or a similar crypto partner likely to freeze the hacker in their footsteps, some claim that it is too late.
Wan writes that Bithumb's EOS funds have already deposited the chips on no-deposit, no-deposit exchanges, such as ChangeNow and Changelly, probably for a confidentiality-focused badet, such as Monero (XMR) or ZCash (ZEC) armored.
3. EOS will not freeze this time, or it's now too late
4. The hacker has the EOS stolen via ChangeNow, a non-trustee crypto-swap platform that does not require KYC / account
5. Bithumb is the only senior Korean operator not to have a commercial banking partnership pic.twitter.com/SM9Wes0BI6
– Dovey Wan ? (@DoveyWan) March 30, 2019
It's a breakup situation. NewsBTC will keep you up-to-date on this situation, so stay tuned.
Featured image of Shutterstock
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