Archive | Bithumb

30% of Millenials Prefer to Invest in Bitcoin, Key to Multi-Trillion Dollar Market Cap

Blockchain Capital, a cryptocurrency-focused hedge fund and venture capital firm, has revealed in survey that 30 percent of millennials would rather invest in bitcoin and the cryptocurrency market than government bonds or stocks. Millennials Prefer Bitcoin Over Stocks In an interview with Forbes, Timothy Tam, the founder of CoinFi and former hedge fund trader, emphasized […]

Korean Crypto Exchanges Go on Hiring Spree, Stealing Workers From Banks

Major South Korean exchanges are on a hiring spree. The demand for cryptocurrencies and the government’s mandate for stronger security systems are driving the need for additional manpower at crypto exchanges. Their attractive employment benefits and flexible work environment are pulling workers from traditional banks and financial companies. Also read: Russian Regulators Draft Law to Restrict Crypto […]

South Korean selloff on crypto clampdown

After a brief day or two of recovery all cryptocurrencies except a couple were back in the red again during the Asian trading session. Bitcoin showed a strong rebound but failed to break resistance below $17,000 yesterday and fell sharply back to $14,700 where it currently trades. Likewise Ethereum, Bitcoin Cash and Litecoin have all […]

Why Recent Bitcoin Price Drop Was Long Overdue, and How it Will Recover

Over the past 24 hours, the bitcoin price has dropped from $15,900 to $13,000, recording a 19 percent decline in value. Major Market Correction The price of bitcoin fell sharply as the entire cryptocurrency market experienced a major correction. The combined market valuation of cryptocurrencies fell from $600 billion to $489 billion within a single […]

Popular Chat App Kakao’s Exchange Upbit Claims Number One Spot in South Korea

Kakao’s cryptocurrency exchange Upbit now claims to be the largest crypto exchange by volume in South Korea, one of the top three markets globally. Listing over 120 coins and leveraging Kakao Talk’s massive user base, Upbit currently facilitates an average daily trading volume of 5 trillion won. Also read: South Korea Clarifies Position After Reports of […]

Another South Korean Bitcoin Exchange Hacked, Files For Bankruptcy

Seoul-Based South Korean bitcoin exchange Youbit has admitted to suffering a major security breach that led to the loss of a fifth of user funds stored on the trading platform. Youbit to Proceed With Bankruptcy Proceedings In an announcement, Youbit told its users that they will only be able to withdraw 75 percent of their […]

North Korean Hackers Attacked South Korean Exchanges, NIS Claims

As originally reported by local media outlets, the South Korean National Intelligence Service has traced previous hackings of domestic cryptocurrency exchanges back to the North.  North vs. South This Saturday, South Korean newspapers recapped reports by the NIS that claimed North Korean hackers were behind an attack on the Bithumb exchange. The hack, which began after an […]

South Korean Banks Drop Crypto Accounts as Government Plans a Ban

South Korean regulators have announced a plan to ban banks from activities involving cryptocurrencies, prompting major banks in the country to declare they will no longer issue accounts required for crypto trading. South Korea’s top bitcoin exchanges are all effected, including Bithumb, Coinone, and Korbit. Banks that have made announcements include Shinhan Bank, Korea Development […]

SK Regulator Fines Exchange Operator Bithumb 60 Million Won for Leaking Customer Data

The Korea Communications Commission has fined the operator of Bithumb, South Korea’s largest bitcoin exchange, for leaking users’ private data. This marks the first time the country’s government has taken punitive steps against a cryptocurrency exchange. Also read: South Korea Clarifies Position After Reports of Possible Ban on All Crypto Transactions First Punitive Action Against Crypto […]