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Bithumb’s parent company receives $200 million investment from Japan’s ST Blockchain Fund

Namrata Shukla

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Bithumb's parent company receives $200 million investment
Source: Pixabay

Bithumb’s parent company, Blockchain Exchange Alliance [BXA], received a massive $200 million in funding during its Series A round. This huge sum was offered by Japan’s ST Blockchain Fund, reported Coin Telegraph. Though based in Japan, ST Blockchain Fund interests investors from around the world, including Europe and the United States.

BXA is raising funds to take Bithumb to the international level. Bithumb, already one of the largest exchanges in South Korea, will expand in international markets with new trading pairs.

BXA’s press release read,

“The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision.”

The news of massive funding comes in after Bithumb lost around $13 million in March following a hack. According to reports, this was considered to be an inside job, done to deceive the company. However, in the third-party public audit, Bithumb reassured investors that their funds were in a secure storage.

Bithumb was also hacked in 2018, losing around $30 million. However, the figure was later corrected to $17 million. The investment by ST will be a much-needed impetus to Bithumb, an exchange that has been reeling under major losses. It has been reported that the South Korean exchange reported losses over $180 million since the price of Bitcoin dropped, while it also had to lay off half of its staff last month.

The timing of the investment also falls in line with the rising prices of cryptocurrencies, especially since Bitcoin has finally breached the $5K mark





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GateHub: Stolen XRP funds transferred to prominent exchanges

Namrata Shukla

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GateHub stolen XRP funds moved to Bitfinex and OKEx
Source: Pixabay

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges.

One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows:

Source: Whale Alert

Source: Whale Alert

Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details:

Source: Whale Alert

Source: Whale Alert

The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions.





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