South Korean cryptocurrency exchange Bithumb, lost $31.5 million in the result of a hacker attack on 19 June, stated that it can reduce the financial damage. The statement was published on the official website of the company.

According to the report, currently, the exchange deals with the aftermath of a burglary and a reduction in incurred losses. In particular, it is reported that Bithumb collaborates with other cryptobinary to prevent probable losses and refund. In addition, it was found that Bithumb stores own and client funds separately.

“The company believes that the use of Bithumb safely,” concluded the statement, the representatives of the exchange.

Information about hacking Bithumb appeared in the media Wednesday, June 20, after the news was confirmed by the company itself. The exchange has not yet revealed details about how it was carried out the attack and what the cryptocurrency was developed, but there are unconfirmed reports that the criminals were the deposits in XRP.

On the same day Bithumb suspended operations for depositing and withdrawal of funds, and also made an assurance that all customer assets are transferred in cold wallets, and lost funds will be returned to the user.

Today Korean Blockchain Association (KBA) has commented on the situation with the hacking, calling it “unpleasant”, but noted that such attacks help the sec better protect their customers and their assets. The Association intends to contribute to this process by developing safety standards for kryptomere. So, in April, KBA proposed to introduce rules under which the participants will be required to hold in reserve at least $1.8 million and store transaction data for five years for the sake of security.

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