World’s Fourth Largest Cryptocurrency Exchange Hacked in South Korea…(Let That Be A Warning!)

Wednesday, July 5, 2017
By Paul Martin

South Korea is a leader in ethereum cryptocurrency. Approximately 20 percent of global “ether” trades are exchanged for won, the South Korean currency. However, ether’s popularity appears to have attracted those willing to exploit it.

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
Ethereum currency is a digital currency, similar to Bitcoin, that can be used to pay for items.

Recently, customer information worth millions of dollars was stolen from South Korea’s largest exchange, Bithumb, where customers buy and sell ether as well as Bitcoin.

Bithumb is the fourth largest cryctocurrencty exchange in the world by volume.

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