Bithumb is Planning to Resume Withdrawals and Deposits of BCH, XRP, and EOS

The South Korean prominent cryptocurrency exchange Bithumb was hacked back in March 2019, and since then the company has stopped all the transactions on their exchange platform. Now, after one and a half month, they are planning to resume the operations. The three major cryptocurrencies, Bitcoin Cash (BCH), Ripple (XRP) and EOS, are the currencies that will start trading.

The made an announcement on May 15th stating that they are resuming the transactions of these three cryptocurrencies in order to reduce inconvenience that users are facing.

They have also added

“At the moment when the security enhancement that we anticipate will be completed, deposit and withdrawal will resume in about a month. We will proceed with the resuming sequentially considering the price difference and service stability.”

The operations of Bithumb will resume at 1300 Korean Standard Time on 17th of May, 2019. The one thing that matters here is that the trading of other cryptocurrencies will start after some time. Although Bithumb isn’t giving a clear date, it is anticipated that the other cryptocurrency exchange will start after June.

After falling prey to one of the biggest cryptocurrency hacks, Bithumb is a little careful with the deposits. The customers are advised to provide new deposit addresses. The company lost $13 million worth of EOS in March, which has led to a serious loss. The hacker stole EOS and sent them to other platforms like CoinSwitch, EXMO, Huobi, KuCoin, and Changelly. According to a report by Binance, none of them were returned to Bithumb.

The same hacker had stolen 20 million XRP which was worth $6 million in March. Bithumb stated that the hacker happened to be someone who is present in the inside network of the company as any outsides didn’t have a chance to enter the network. They further added that the company is working closely with the police department, KISA, cyber police agency, and various security companies to get back the stolen coins.

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