Upbit hack update: ETH worth millions on the move AGAIN!

upbit exchange
upbit exchange

Upbit hack update: ETH worth millions on the move AGAIN!

Barely a day after $38 million worth of ETH stolen from Upbit was moved to unknown accounts, a further $4.65 million USD is on the move as at Dec 4 3.00 PM UTC. The efficiency of the hacker is terrifying for the world of crypto.

Over 30,000 ETH stolen last week from Upbit crypto exchange have moved to an unknown wallet. The attacker, who stole close to $50 million USD in ETH, has tested a couple of exchanges with small transactions of ETH sent to Binance, Bittrex and BitFinex.

Over 31,000 ETH Stolen From Upbit On the Move

In less than 2 hours, over 31,000 ETH (31,001 ETH to be precise) – worth close to 4.65 million USD – and part of the ETH stolen from the Upbit hack on 27 November was moved to unknown accounts. On the dreadful day, the South Korea-based exchange lost over $50 million USD, that is, around 342,000 ETH.

According to data collected by Whale Alert, three successive transactions of 10,000 ETH ($1.15 million USD) each were sent to unknown wallets and another 1,001 ETH ($150,150 USD) to another unknown wallet.

A Helping Hand From the Crypto Community

The reaction received from the crypto community has been nothing but positive and helpful as a number of exchanges such as Binance have come forward to help recover the funds. Etherscan has also flagged the addresses associated with the Upbit hack in a bid to deter ETH wallets from transacting with the hackers.

Upbit exchange, soon after the attack, had announced that it would reimburse the lost ETH to its users account and is in process to track and recover the lost amount.

Summary
Upbit hack update: ETH worth millions on the move AGAIN!!
Article Name
Upbit hack update: ETH worth millions on the move AGAIN!!
Description
Barely a day after $38 million worth of ETH stolen from Upbit was moved to unknown accounts, a further $4.65 million USD is on the move as at Dec 4 3.00 PM UTC. The efficiency of the hacker is terrifying for the world of crypto as exchange hacks become more prevalent.
Author
Publisher Name
Coingape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Lujan Odera

Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Follow him at @lujanodera.

Post your comment...
Lujan Odera 165 Articles

Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Follow him at @lujanodera.

Follow Lujan @