SOUTH KOREAN cryptocurrency exchange Bithumb said 35 billion won (US$31.5 million) worth of virtual coins were stolen by hackers, the second exchange in the country to suffer the fate in just over a week as cyber thieves exposed high risks of trading the digital asset.

Bithumb said in a notice on its website yesterday that it has stopped all trading after ascertaining “some cryptocurrencies worth about 35 billion won has been seized between late yesterday and early morning today.”

The exchange, the sixth busiest in the world according to Coinmarketcap.com, said it has stored “all of clients assets in safe cold wallet,” which operates on platforms not directly connected to the Internet.

It added the company will fully compensate customers.

The Bithumb theft again highlighted the security risks and the weak regulation of global cryptocurrency markets. Global policymakers have warned investors to be cautious in trading the digital currency given the lack of broad regulatory oversight.

On June 11, another South Korean cryptocurrency exchange Coinrail said it was hacked. (SD-Agencies)