Crypto Exchange Bithumb to Re-Open Deposits and Withdrawals for 10 Cryptocurrency
South Korea’s biggest and most respected exchange, BitHumb, will finally resume deposit and withdrawal services on the 4th of August, after a month of freezing the platform.
Bithumb will resume deposits and withdrawals for 10 cryptocurrencies namely: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Ethereum Classic (ETC), Qtum (QTUM), Litecoin(LTC), Bitcoin Cash (BCH), Monero (XMR), Zcash (ZEC), and Mithrill (MITH).
[Re-open deposit and withdrawal services]
■ Timeline for the first round deposit and withdrawal services
: 4 Aug, 2018 11 AM[KST]
■ List of cryptocurrencies (10 in total)
: BTC, ETH, XRP, ETC, QTUM, LTC, BCH, XMR, ZEC, MITH
— Bithumb (@BithumbOfficial) August 3, 2018
The exchange will resume these services for Tron (TRON) and EOS (EOS) after their mainnet implementation is completed.
Currency transacting capabilities were disabled back in June when the company was hacked for a part of their hot wallet funds accounting for more than $30 million USD worth of coins altogether.
After the initial hack, the rest of the funds were moved to a cold wallet before the deposits and withdrawals were disabled.
Investors and users of Bithumb suspected the halt of deposits and withdrawals to last from a couple of days up to a week and patiently waited for the Bithumb team to restore withdrawals.
However, Bithumb failed to resume deposits and withdrawals for over a month since its security breach, the inability of Bithumb to restore operations led the users on its exchange to trade certain tokens such as 0x (ZRX) and Ethos (BQX) with a 500 percent premium, triggering red alerts across the global community.
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