Bithumb to Reopen Registrations After Month-Long Hiatus

Bithumb will allow users to create new virtual accounts. The exchange, which is still recovering from hack is back on track after renewing contract Nonghyup Bank

Wed, 29/08/2018 - 20:40

Bithumb to Reopen Registrations After Month-Long Hiatus

Cover image via U.Today

Read U.TODAY on

Google News

Bithumb, the second largest exchange in South Korea, will allow users to create new virtual accounts starting from Aug. 30. The exchange, which is still recovering from the June hack, is back on track after renewing its contract with Seoul-based Nonghyup Bank. Its previous renewal request was denied due to weak KYC policies, but Bithumb has apparently managed to iron out this problem.

After this announcement, Bithumb’s trading volume saw a massive surge, currently sitting at $377 bln. Earlier, U.Today reported that registration suspension immediately led to a $100 mln drop in trading volume.

#Cryptocurrency exchange

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.