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$30m stolen from top Seoul bitcoin exchange

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AFP

SEOUL (AFP) – Hackers stole more than $30 million worth of cryptocurrencies from South Korea’s top bitcoin exchange, sending the unit’s price falling around the world yesterday.

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The virtual currency was priced at $6,442 dollars late afternoon in Seoul, down about 4.4 percent from 24 hours earlier, after the latest attack on Bithumb raised concerns over cryptocurrency security.

Hyper-wired South Korea has emerged as a hotbed of trading in virtual units, at one point accounting for some 20 percent of global bitcoin transactions – about 10 times the country’s share of the global economy.

Bithumb, which has more than 1 million customers, is the largest virtual currency exchange in the South.

“It has been confirmed that virtual currencies worth 35 billion won ($32 million) was stolen through late night yesterday (Tuesday) to early morning today,” the exchange said in a statement.

All deposits and withdrawals were suspended indefinitely to “ensure security”, it said, adding the losses would be covered from the firm’s own reserves.

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