Tuesday evening, popular South Korean cryptocurrency exchange Bithumb reported a system breach that resulted in approximately $31 million worth of cryptocurrencies being stolen. Coincidentally, in the days following the hack, there was a large marketwide dip — Bitcoin and Ethereum dropped 11 and 15 percent, respectively.
Even those who don’t use Bithumb weren’t very pleased after the hack — as Bitcoin transaction speeds and fees soared, due to the exchange moving huge amounts of cryptocurrencies away from its hot wallets.
On a small positive note, Bithumb promised to fully reimburse all those who had cryptocurrency stolen from them.!
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