Advertisement
AD

Main navigation

Binance Freezes Ethereum Sent by Upbit Hackers, CZ Says They Must Fight Bad Actors

Advertisement
Wed, 13/05/2020 - 17:18
A
A
A
Binance Freezes Ethereum Sent by Upbit Hackers, CZ Says They Must Fight Bad Actors
Cover image via U.Today
Read U.TODAY on
Google News
Advertisement

Binance, the largest cryptocurrency exchange in terms of trading volumes, has frozen 137 ETH ($27,164) sent by Upbit hackers. 

Changpeng Zhao, the CEO of Binance, swiftly reacted to a tweet posted by Whale Alert's Twitter latest batch of stolen funds. 

Related

Binance to investigate the transfer 

According to CZ, they are currently working with Upbit and law enforcement to verify the malicious nature of the transaction.

After conducting an investigation, Binance will figure out how to hand off the stolen crypto back to Upbit. 

As reported by U.Today, the major South Korean exchange suffered a $51.7 mln Ethereum hack back in November 2019. 

Since they, the hackers have been routinely shuffling their ill-gotten coins, with the Binance transfer being the latest example.   

Related

Advertisement

Taking a stand against bad actors 

While CZ admits that some social media users might give Binance grief over freezing funds, he also emphasizes that it's important to fight bad actors. 

Back in January 2019, Binance also froze the crypto stolen from the now-defunct Cryptopia exchange.

Binance itself endured a $40 mln hack in May 2019 due to a damning security vulnerability.    

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailboxSubscribe
TopCryptoNewsinYourMailboxSubscribe
Advertisement
Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD