South Korea's biggest cryptocurrency exchange, Bithumb, suffered a hacking attack that led to the loss of 35 billion won worth of cryptocurrencies.

Bithumb said in a statement on Wednesday that the hacking took place between Tuesday night and dawn on Wednesday.

Bithumb said its cryptocurrencies were moved to a more secure "cold wallet," which can transfer coins to a platform that is not connected to the Internet, adding that deposit and withdrawal services were halted for the time being.

It said the loss will be compensated by Bithumb's own reserves.

It was the second hacking attack of a cryptocurrency exchange in less than two weeks in South Korea after the minor exchange Coinrail said it was hacked earlier this month.