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Bithumb, one of the premier South Korean crypto exchange firm has been hacked. The incident was said to be another shocking happening that makes a thousand users of the platform suffer. Although the exchange company is not new to this phenomena, the crypto exchange still expresses their pain due to the hacking.
Bithumb has learned how to cope with the issues regarding hacking and how to deal with their customers. Despite the damage done by the hack, the exchange still ensures transparency by releasing a damage report which includes the scale of damage and the data affected. However, the good news is that the amount of theft was not that serious and it was not that serious. The fast reaction time shown by Bithumb is what promotes transparency.
According to Bithumb, the main reason for the drop of the damage is because of the participation and the unity of the Bithumb across the world. During the interview, the exchange company highlighted their ability to respond to any cyber-attacks quickly. The company also added that their goal is to reduce the damage of the hack and if possible, to get rid of all the thefts.
Bithumb knows what to do with regards to this matter. According to the exchange, they will compensate all the affected customers. All the affected victims of the theft need to apply for compensation. After the application for the reimbursement, affected users will receive their stolen currency. The currency to be given to all the victims will be in a currency where the company will be keeping it undisclosed.
The action done by the exchange somehow ease the fear and worry of most of the theft victims. Aside from that, Bithumb will also obtain 10% more interest rate for barring the user’s funds for the outstanding withdrawal. All the member will also get a free daily and commission-free coupons.
The company’s quick response to the theft is a great proof that the exchange is enthusiastic and eager to remain in the industry of cryptocurrency exchange. Bithumb is a perfect example of other exchange across the world who are experiencing the same situation. Other cryptocurrency exchanges should also learn on how to deal with any theft or hack attacks. Bithumb also expressed their goal of making sure that this incident won’t happen again in the future.
