Hackers Move $1.2 Mln ETH from Crypto Stolen from Upbit in November 2019

Wed, 05/06/2020 - 10:49
Yuri Molchan
Hackers who stole $78 mln in Ether from the South Korea-based Upbit exchange have emerged again, this time transferring $1.2 mln in crypto - 5,798 ETH
Cover image via stock.adobe.com

In November last year, hackers managed to steal 92 bln KRW in Ethereum from the South Korean crypto exchange Upbit – slightly over 300,000 ETH at the exchange rate back then. This is around $78 mln.

The gargantuan amount of crypto was withdrawn to a different wallet without any announcement. The hack was believed to be an inside job.

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The exchange teamed up with the local legislative bodies and other crypto exchanges asking them to help find the money. Binance CZ stated that he would freeze the crypto stolen from Upbit if it were sent to Binance.

Later on, hackers started gradually moving the stolen Ethereum after splitting it into smaller parts.

Today, on May 06, the Whale Alert bot reported that they have moved another 5,798 in Ethereum.

Image via Twitter
Image via Twitter

2019 was lavish in crypto hacks. The year started with IT criminals attacking the New Zealand-based Cryptopia exchange which later on had to go into liquidation.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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