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Bithumb To Compensate Customers Affected By The Hacking Attack

Bithumb To Compensate Customers Affected By The Hacking Attack

Customers, whose accounts were compromised during the attack on the South Korea’s leading cryptocurrency exchange platforms’ data system, would be compensated by the exchange.

 An unidentified employee of the company is believed to be the source of origination of data leakage. About 30,000 users have been affected by the data leak as per the reports of the regional news service Yonhap.

Position of Bithumb in the global crypto market

In terms of volume, Bithumb stands among the top ten Bitcoin exchanges in the world with Bitcoin transactions of the exchange contributing approximately 3% of the entire Bitcoin market and capturing around 13.5% of the total Ethereum market.

Compensation

Although the exact figures of the losses are yet not provided by the company, it promises to pay 100,000 Korean Won (US $86.5) to every affected client. The company also plans to provide additional compensation to the customers whose funds were stolen. According to a local client, 10 million Won (US$8,700) was taken from the account of the customer.

Bithumb reassuring its customers said: "In addition, for the members who suffer additional damage due to this incident, we will compensate the entire amount of damages in a responsible manner.”

The local authorities were informed in late June this year of the theft and date leakage incident at the exchange. Korea Internet and Security Agency has been prompted to conduct an investigation in the case. Korea Communications Commission has also taken part in the early investigations.

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