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.
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 minute 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 stole from the Upbit hack on 27 November was moved to unknown accounts. On the dreadful day, the South Korean based exchange lost over $50 million USD, 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.
⚠ 10,000 #ETH (1,487,086 USD) of stolen funds transferred from Upbit Hack Nov 2019 to unknown wallet
— Whale Alert (@whale_alert) December 4, 2019
A helping hand from crypto family
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 reimbursed the lost ETH to its users account and is in process to track and recover the lost amount.