The U.S. government continues to be wary of cryptocurrency, and presently, no cryptocurrency exchange is protected by the FDIC. When you put your money in a FDIC-insured bank, if the bank becomes insolvent customers will not lose their deposits, usually up to a maximum of $250,000 per depositor per insured bank. But if you deposit
Bithumb, located in South Korea and ranked the seventh largest cryptocurrency exchange, has confirmed that it was hacked and that the thieves absconded with approximately $32 million in coins, including the XRP token issued by Ripple.
Following the hack, the exchange stopped processing cryptocurrency deposits and withdrawals and moved assets offline.
Bithumb has reported that…