WHAT YOU NEED TO KNOW ABOUT THE BITHUMB BITCOIN HACK

Bithumb is one of the world’s top five cryptocurrency exchanges and each one, from Coinbase to Bithumb, has been targeted by cyberthieves. As the worth of Bitcoin and other digital currencies continue to rise, hackers have increased their attacks on all of the exchanges. But the South Korea-based Bithumb exchange is one of the first major exchanges to have experienced a successful attack. Smaller attacks, such as one on the Yapizon exchange, which is also based in South Korea, saw the loss of over $4 million worth of bitcoin. These attacks should be seen as warning flags. From the upper levels of the exchange down to the end user, cybersecurity protocols must be put into place.

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