Another hackening occurred. // Bithumb

Slikovni rezultat za bithumb hack

Centralized exchanges getting hacked isnt something new or unexpected.
But this exchange is one of those that account for a lot of STEEM trading volume. Most of the volume is probably fake and coinmarket cap doesnt even acknowledge it, but still, its there. 😀

So how much was stolen?

Some sources say 20 million USD. A hefty sum. The funds were moved to another exchange so they could potentially be frozen and returned to the rightful owner.
I dont have the live news on whats happening, im just retelling the story. lol

The difference between this hacking and the prior ones is that apparently most of the user funds were safe in cold wallets so hackers couldnt get to them. What was stolen is the exchange funds and the suspicion is that it was an inside job. Bithumb claims that they have a good protection against outside attacks but admit to a poor employee vetting process and poor security inside the exchange..

What does this mean for the end user?

It means what it always meant. No matter what was stolen, you should never keep your funds on a exchange.

Your keys, your STEEM. Not your keys, not your STEEM.