Bithumb Resumes Deposit and Withdrawal Services – Upbit Reveals 127% Cash Reserves

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South Korean exchange Bithumb has resumed deposit and withdrawal services for a number of cryptocurrencies after the recent hack. Another major Korean exchange, Upbit, has released an audit report showing more crypto and cash reserves than needed to pay customers. Meanwhile, all customer deposits at Korbit will now be held by a bank.

Bithumb, South Korea’s largest crypto exchange, announced on Saturday, August 4, that deposit and withdrawal services for nine cryptocurrencies will be resumed on August 4 at 7 p.m. KST.

The nine cryptocurrencies are BTC, ETH, ETC, XRP, LTC, BCH, ZEC, QTUM, and MITH.

Upbit Audit Report Shows Plenty of Reserves
Upbit, South Korea’s second largest crypto exchange, released an audit report Friday. The audit was conducted on June 28 and 29 by Eugene Accounting Corp and focused on 145 coins and the exchange’s deposits, according to Upbit.

Korbit Lets Bank Hold all Customer Deposits
Korbit, another of the country’s four largest crypto exchanges, has become the first exchange in the country to exclusively use the real-name system.
Since the government implemented this system at the end of January, “Korbit has been implementing real-name verified deposit and withdrawal account services for cryptocurrency trading,” the exchange explained Thursday. This is “to comply with the government’s measures to promote the sound development of the cryptocurrency market,” Korbit noted.

https://news.bitcoin.com/bithumb-deposit-withdrawal-upbit-cash-reserves

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