One of the largest South Korean kryptomere Bithumb will resume the Deposit and withdrawal of funds from client’s accounts tomorrow. Services were unavailable for up to six weeks after a hacker attack, which resulted in the market losing $31 million.
Theft committed in June an unknown group of hackers, became the third in a row for Bithumb for 12 months. In order to prevent further break-ins, the exchange’s management ordered to move all deposits to cold wallet and stopped making deposits and withdrawal; investors with assurances that they lost amounts will be refunded in full. It was assumed that the exchange will be restored within weeks, but the process took longer. Delay associated with the participation of representatives of the Seoul division of the financial services Commission of South Korea (FSC) and their thorough investigation.
As a result, Bithumb there is a shortage of liquidity, which led to higher prices. As writes the edition NullTX, users were forced to exchange a series of tokens (for example, 0x, and Ethos) with a 500 percent markup.
The end of the period of stagnation, the expected inflow of new capital, as well as the number of customers of the exchange can have a significant impact on the state of the local stock market. However Bithumb unlikely to quickly restore the position and to attract new investors from traditional sectors of the economy: some users are openly boycotting the site in social networks, and in the ranking for trading volume its already ahead of Upbit is a platform owned by a subsidiary of the company Kakao.
Despite the partial resumption of work yesterday Bithumb “freeze” option create a new account. The decision was taken due to the fact that the housekeeping bills of exchange Bank refused to extend the contract.
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