Upbit Hack: Stolen ETH Worth Millions on the Move to Unknown Wallets
Marie Huillet's original article for cointelegraph.com reduced by 76%
One of the addresses involved in last week's theft from South Korean crypto exchange Upbit is moving millions of dollars worth of stolen Ether to an unknown wallet. As Whale Alert - a service dedicated to tracking major cryptocurrency transactions - has flagged today, Dec. 3, a 10,000 ETH transaction occurred at 7:52 a.m.
The transaction was preceded by a smaller transfer - of 1,001 ETH, worth roughly $150,000 - five minutes earlier, from the same address. As of the time of writing, the transactions continue - with another 10,000 ETH transfer just confirmed. Upbit, which is run by a subsidiary of Korean tech giant Kakao, revealed last week that 342,000 Ether had been stolen from its hot wallet on Nov.
27. Industry members - including Binance CEO Changpeng Zhao - had immediately pledged to ensure that the stolen funds would not be transacted via their platforms. Since the theft, Upbit's operator has promised to compensate all stolen funds from their corporate funds.
In January 2018, South Korea's top four exchanges created a hotline for major exchanges to ensure suspicious transactions could be detected and frozen immediately after being disclosed.
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send Ethereum
Donate With MetaMask
Donate ETH With MetaMask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.