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Bithumb Reopens Transactions for XRP, EOS, and BCH

The well- known South Korean cryptocurrency exchange Bithumb, announced to reopen withdrawals and deposits for Ripple [XRP], Bitcoin Cash [BCH] and EOS [EOS].

After the recent hack on March 29, Bithumb exchange has suspended deposits and withdrawals of top six major cryptocurrencies. The platform suffered a hack of  3 million EOS, which was worth $13 million. Further, it was revealed that the bithumb’s hot wallet holding EOS had been breached by the hacker.

Later, the EOS coins were transferred to other exchanges including EXMO, Huobi, Changelly, KuCoin, and CoinSwitch. Changpeng Zhao Founder and CEO of top cryptocurrency exchange Binance, revealed that none of the stolen coins were sent to Binance exchange.

Moreover, another wallet holding XRP was also hacked and over 20 million XRP were stolen which was worth of $6 million.

However, the exchange responded that the cyber attack involved insiders because the external intrusion path had not been revealed.

At present, the platform is all set to resume the suspension of three coins. In the recent twitter post, the exchange stated that these would be the first few virtual currencies to resume trading.

Additionally, The exchange also claimed the reason behind the reopening of these cryptocurrencies for trading was to decrease the inconvenience of users until the restart of deposits and withdrawals.

Bithumb Exchange said that :

“At the moment when the security enhancement that we anticipate will be completed, deposit and withdrawal will resume in about a month. We will proceed with the resuming sequentially considering the price difference and service stability.”

Additionally, the post stated that the platform has made few changes in trading these currencies. Thus, users are advised to issue new deposit addresses.

Recently, on May 10th the coin also listed MIXMARVEL, which is a global game publishing platform powered by blockchain.

What is your opinion on Bithumb exchange? Share your thoughts in our comments section. Share your views on our Twitter and Facebook pages. Also, read the reviews of some more cryptocurrency exchange

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Bithumb Reopens transactions for XRP, EOS and BCH
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Bithumb Reopens transactions for XRP, EOS and BCH
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After the recent hack, Bithumb exchange has suspended transactions. At present, the platform is all set to resume the suspension of three coins.
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Oliver A

Oliver is a content marketer who is actively engaging with latest trends in the financial market. He is a writer by day ad a reader by night. Contact me at oliverzack87@gmail.com

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