Bithumb Resumes the Withdrawals and Deposits of Monero [XMR] and Others

In mid-June this year, Bithumb – a digital currency trading platform – was hacked and digital currencies worth $31 million was lost. This event halted the activities on the site, and deposits and withdrawals were put on hold. Nevertheless, the digital currency trading platform has resumed its services for Monero [XMR] and nine other digital currencies about three days ago.

Large-Scale Hack Recovery

Bithumb – the South Korea-based digital currency trading platform – announced via a tweet that they will resume full operations on the platform from August 4th. The firm suspended every activity on its platform on the 19th of June after it saw a large-scale hack. Since then, the trading platform has recovered almost half of the stolen funds.

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According to FinTechNews, Bithumb is South Korea’s second largest digital currency trading platform by daily trading volume and the platform holds 33% of domestic market share.

Digital Currencies Currently Trading on the Platform

After a security system upgrade, the platform will resume deposits and withdrawal services for ten digital currencies, including Monero [XMR], Bitcoin (BTC), XRP (XRP), Ethereum (ETH), Ethereum Classic (ETC), Zcash (ZEC), Bitcoin Cash (BCH), Qtum (QTUM), Mithril (MITH), and Litecoin (LTC). Withdrawal and deposit services for twenty-five other digital currencies remain on hold.

In the announcement, the exchange said that the price fluctuations in the market are the reason why they excluded some digital currencies from the resumption of the service. The exchange stated that once the prices of digital currencies have stabilized on the platform, they will resume service for the full list of digital currencies.

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Monero (XMR) Price Today – XMR / USD

Name Price24H (%)
Bitcoin (BTC)
$6,501.24
2.45%
Monero (XMR)
$96.54
6.15%

At the time of writing, Monero [XMR] is trading at $102 after a decrease of more than 11 percent over the past twenty-four hours. The current market cap of the digital currency is $1.69 billion and the trading volume of the coin over the past twenty-four hours is $29.18 million.


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