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Bithumb Re-Opens Monero (XMR), Monaco (MCO) Deposits and Withdrawals



The XMR and MCO move came after the price of the two currencies on the exchange stabilized.

Bithumb, the South Korean cryptocurrency exchange hacked in June, said on Tuesday it had re-opened services for two coins, Monero (XMR) and Monaco (MCO). Deposits and withdrawals were activated at 06:00 UTC.

“As the market prices of the following two cryptocurrencies (Monaco, Monero) are getting stabilized with the prices differ less than 10%, we will reopen deposit/withdrawal services for them…[at] August 14 (Tue), 2018 at 3:00 pm KST,” the exchange explained in a blog post.

Bithumb has changed deposit addresses for both virtual currencies, so customers now have to use the new ones.

Monero was part of the first list of coins for which Bithumb planned to resume services at the beginning of the month. However, XMR price differences prompted the delay in re-opening Monero deposits and withdrawals.

Bithumb recorded a trading volume of nearly $242 million in the past day. In June, the platform became the target of hack attack which resulted in $34 million worth of cryptos being stolen. After the theft, which caused a temporary suspension of services, the company said it would start re-opening deposit and withdrawals for the coins that have no more than a 10% price difference on its own platform compared to the other exchanges. The measure is part of Bithumb’s efforts to regain customer trust.

The first list of digital coins for which deposit and withdrawals were resumed includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Ethereum Classic (ETC), Qtum (QTUM), Litecoin(LTC), Bitcoin Cash (BCH), , Zcash (ZEC), and Mithril (MITH). The exchange will restart these services for Tron (TRON) and EOS (EOS) after their mainnet process is completed.

Still, Bithumb sees a significant price difference in 24 cryptocurrencies, including Cardano (ADA), Dash (DASH), NEM (XEM), Bitcoin Gold (BTG), and OmiseGO (OMG).

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