Breaking: South Korean Crypto Exchange Bithumb Hacked, Thieves Steal $30 Million

South Korean cryptocurrency exchange Bithumb has suspended deposits and withdrawals after losing $30 million worth of cryptocurrencies as the result of an apparent hack.

The Seoul-based company, once the world’s largest cryptocurrency exchange, on Wednesday announced that $30 million worth of undisclosed cryptocurrencies had been stolen from the platform.

It is not clear at what time the theft occurred, but Bithumb suspended deposits at approximately 00:53 UTC and immediately began transferring all of its assets to cold wallets to prevent further losses.

“We checked that some of cryptocurrencies valued about $30,000,000 was stolen,” Bithumb said on Twitter. “Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.”