Bithumb hack: What the crypto community thinks on Twitter & Reddit
Bithumb exchange has been hacked! This is the most trending news of the day until now. However, mixed reactions have been expressed about the incident on social media platforms such as Reddit, Twitter, Telegram, etc.
Crypto investors woke up today to the news of Bithumb exchange being hacked. Allegedly, coins worth $31.5 million were looted from the exchange by unknown hackers. Following the hack, Bithumb made sure the hackers wouldn’t get their hands on the remaining funds by storing them in a cold wallet.
They also announced about the same on their official website as well as on Twitter. Much to the relief of the crypto investors who had invested their cryptocurrencies in Bithumb, the exchange announced that the losses would be covered by the exchange’s own funds.
*All deposit and withdrawal service will be stopped to make sure the security. We will keep notice you of the restart of the service. We apologize for your inconvenience and thanks for your understanding.
— Bithumb (@BithumbOfficial) June 20, 2018
Here’s how the crypto community received the news and expressed their views about it.
Lawson Baker: Bithumb deletes tweet about $30M hack for users which will be “covered” by @BithumbOfficial. This is bad.
Marty Bent: I have a feeling they lost more than $30 million.
Sebastian Fox: If Bithumb has similar trading volumes to Binance, and made a similar profit of $200 mil for Q1 2018. Then by extrapolating up to a potential yearly profit of $800 mil, we can conclude that a $30 mil loss may end up being less than 4% their yearly profit. I.e. Easily coverable.
Alex Martell: My gut says the figure is higher than $30M+ or they can’t make $30M payment.
Max Dunst:To assess the real impact of any hack or breach takes a few days. $30 mn figure could be revised higher. Also last year profits were inflated due to higher coin pricing. Such hacks could prove to be fatal unless secured.
Rustin Cohle: 3 times being hacked looks more like a collaboration.
World coin: Hmmm…. 3 hacks in 12 months. Inside job for tax evasion purposes?
Max Bailey: My wife screwed me up yesterday and asked me to get rid of all my crypto. I just sold every single coin I had to Bithumb just before the hack happened. Now I’m on my way to get my wife some hamburgers. XOXO.
TOP REDDIT COMMENTS
Overclocked Jesus: What part of someone else getting robbed makes you dump all your belongings out in the street?These dumpers are idiots.
80sGamerKid: FAKE Bithumb hack in case you guys were wondering this is a great ploy as a tax write off for the 28M they owe.
Ad_hawk: So they save $30m in taxes but besmirch their name and potentially lose customers and tens/hundreds of million more? They do this at a time where exchanges are facing fierce competition and will face more when dex arrives? They can afford to pay their taxes. This is a hack.
jpastore: I got a screen shot. Definitely concerned. They are now claiming they were attacked and are in maintenance mode. We called them. There is no ETA on when services will be restored.
Pasttuesday: Yes. Good on them, however – what was the hack? And jeez these exchanges must be making an absolute mountain of money to be like ok yeah here’s 31 million no problem.
Alex_marty: Don’t you guys see it? It’s an insider job..
MrHindoP: I just called them and they said “fundsa saifu”… Man! These South Koreans
wwtt1210: seriously, the legit exchanges are getting better and better with customer service
Well, the development until now is that Bithumb has deleted their official tweet which said they would refund all the lost crypto from their users’ accounts. This has gotten some investors worried. What will be Bithumb’s next move?
Image via Shutterstock
Join our Telegram group