Bithumb hack: Crypto-exchange ChangeNOW retains stolen XRP, EOS worth $0.5 million

The South-Korean crypto exchange Bithumb has been in the news for the past few days after a hack contributed to the loss of millions of EOS and XRP. The hacking episode, however, came to light only after Primitive Ventures’ Dovey Wan pointed it out on Twitter. Wan also pointed out that much of the stolen currencies were being routed and stored in competing crypto-exchanges. The Belize-based crypto exchange ChangeNOW is one of the first exchanges to take some action in this regard.

ChangeNOW today announced that it “managed to stop a solid number of EOS and XRP exchanges” that the hackers were trying to make through it. The exchange’s comment read,

“During the weekend, thanks to our team’s fast and coordinated actions, we have managed to stop a solid number of EOS and XRP exchanges that the hackers tried to make through us.
The total amount of crypto that we have managed to retain from being stolen is worth about half a million US dollars!”

ChangeNOW added that it froze all stolen exchange deposits pertaining to the hack. They are currently secured in a cold wallet under instructions of the law enforcement authority, the exchange added.

Immediately after Bithumb intimated ChangeNOW and other crypto-exchanges about the hack, the Belize-based exchange temporarily disabled EOS and XRP deposits, while also blacklisting the list of malicious addresses.

ChangeNOW was also actively cooperating with the South Korean police and Bithumb representatives, the exchange revealed. It added,

 “Our main goal here is to return all stolen funds to their rightful owners. “

After the hack, Primitive Ventures’ Dovey Wan and Blockchain Explorer revealed that the hacker sent much of the stolen EOS to different exchanges, including EXMO, Huobi, KuCoin, CoinSwitch, and ChangeNOW.

Source: Twitter

ChangeNOW isn’t the first exchange to comment on the Bithumb hack. Binance’s CZ was one of the first industry bigwigs to comment on the story. He said,

“As far as we can monitor, none of the “allegedly hacked” EOS were sent to @binance.
I think hackers don’t want to deal with our big-data risk management system anymore.”

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