Hackers Steal Personal Data of 30,000 Korean Bitcoin and Ethereum Traders

Bithumb, South Korea's largest Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term trading venue, has suffered a cyber security breach leading to the personal data of 30,000 users being stolen by hackers. The exchange has acknowledged on its site that the data was stolen but says it was done from an employee's personal computer and not related to the company's internal systems.

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While the exchange wallets and servers were not directly hacked, the thieves did use the personal details to siphon large amounts of cryptocurrency from some users' accounts, according to local media reports.

This incident will likely lead to stronger calls for the supervision of crypto exchanges in South Korea by the authorities. Just this Monday one lawmaker announced that he will be introducing three bills in July designed to regulate the sector.

Background

After the Chinese central bank forced all the major bitcoin exchanges in China to change their way of doing business, dramatically hurting their trading volumes, other Asian markets rose up to fill the void left by the former top market.

South Korea is now at the top of the global cryptocurrency trading rankings with three local exchanges, Bithumb, Korbit and Coinone, among the top fifteen biggest venues for Bitcoin and Ethereum in the world. Given this, any major step by the Korean government regarding cryptocurrency trading could have a major impact on the global marketplace.

In news from the other half of the Korean peninsula, we recently saw that Dennis Rodman’s peace mission to North Korea was sponsored by PotCoin.