Bithumb Assures Full Reimbursement To Its Users Post $32 Million Hack

Confirmed that it will reimburse all users who lost crypto coins. The exchange was hacked in the earlier hours of yesterday and had to suspend all operations as it tried to resolve the issue.

The decision to reimburse all users who lost crypto coins comes as an assurance to the millions of users of the sixth crypto exchange by trade volume in the world. In today’s update, the exchange says it has started the recovery process and the loss could reduce.

Prior to the most recent attack, Bithumb had agreed to pay authorities $28 million in backdated taxes, something which initially caused suspicion among commentators when it became known hackers had stolen a similar amount.

“We remind you once again that there is no damage to you,”

Bithumb’s update meanwhile reassures users, reiterating that lost funds would be reimbursed using some of its $450 million in company funds. Bithumb also added that it would publish a financial report for the first half of 2018 in July.

Moreover, the exchange said that it is working to solidify its security measures to prevent such an attack in the future. While the company has yet to resume its operations following the incident, it assured its clients that the announcement will be posted soon.

Now that Bithumb has promised to reimburse all users who lost crypto coins, should exchanges take the same steps whenever a hack takes place?

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