Bithumb to Resume Deposits and Withdrawals for 10 Coins

The South Korean exchange will not resume services for another 25 coins due to customer risk concerns, TRON and EOS functions to be allowed after deploying their mainnets.

Bithumb cryptocurrency exchange, which was hacked in June, will resume partly its deposit and withdrawal service for only 10 virtual currencies this Saturday. The decision will not affect 25 digital coins as the South Korean exchange found a suspicious fluctuation in their price movement on its own platform, the company said in a blog post on Thursday.

Bithumb will resume the deposits and withdrawals at 02:00 UTC on August 4 for the following cryptos: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Ethereum Classic (ETC), Qtum (QTUM), Litecoin(LTC), Bitcoin Cash (BCH), Monero (XMR), Zcash (ZEC), and Mithrill (MITH). The exchange will resume these services for Tron (TRON) and EOS (EOS) after their mainnet implementation is completed.

South Korean trading platform changed all deposit addresses. The uncredited deposits that had been made when the services were halted, will be backed for these 10 coins.

“However, some cryptocurrencies with a significant price difference of about 10% between Bithumb market and standard market will be opted out in this round in view of protecting our customer’s asset. Since when the services return to normal, rapid change in market prices are expected. Therefore, resuming normal services for such cryptocurrencies will be put on hold for the time being,” the exchange explained.

The coins, in which Bithumb sees serious price difference, are Cardano (ADA), , Dash (DASH), NEM (XEM), Bitcoin Gold (BTG), OmiseGO (OMG), Monaco (MCO), VeChain (VEC), Augur (REP), 0x(ZRX), Steem (STEEM), Golem (GNT), Hshare (HSR), ICON (ICX), Aeternity (AE), Stratis (STRAT), Status Network (SNT), aelf (ELF), Loopring (LRC), WAX (WAX), Kyber Network (KNC), Power Ledger (POWR), TenX (PAY), Gifto (GTO), Ethos (ETHOS), and Zilliq (ZIL).

Bithumb experienced security breach in June when hackers stole $34 million in cryptos with the exchange claiming to have repaid half of the loses. It is still one of the largest cryptocurrency exchanges with more than $200 million in trading volume for the last 24 hours at the time of publishing. The trading pair between Korean won (KRW) and Mithrill had the share market, accounting for $19.7 million, followed by EOS/KRW with $18.4 million, BTC/KRW – $14.7 million, XEM/KRW – $14.6 million, and XRP/KRW - $13.1 million. All other 32 pairs had a volume below ten million.