KuCoin Hacker Moves $6.7 Mln in Synthetix Network Token (SNX) and Keeps Using Uniswap

News
Mon, 09/28/2020 - 08:57
Yuri Molchan
The malefactor who stole $150 mln in BTC, ETH and ERC2 tokens keeps shifting the stolen crypto between his wallets and continues to send some of it to the Uniswap dex
KuCoin Hacker Moves $6.7 Mln in Synthetix Network Token (SNX) and Keeps Using Uniswap
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Whale Alert crypto tracking service has noticed and brought to public attention that, over the past twenty hours, around a dozen transfers of Synthetix Network Token (SNX) have taken place, marked as "transferred from KuCoin 2020 Hack to unknown wallet."

The amount the hacker has transacted so far constitutes approximately $6,741,064 in SNX.

KuCoin hacker keeps wiring stolen funds

According to data published by Whale Alert, over the past twenty hours almost $7 mln were transferred by the hacker who managed to successfully pocket a total of $150 mln in Bitcoin, Ethereum, Ocean and ERC20 tokens on September 26 from the Singapore-based KuCoin trading platform.

Hack
Image via Twitter

As reported earlier by U.Today, the hacker was actively using Uniswap exchange to launder the funds and, as per screenshots published on Twitter, he/she continues to use that platform.

Related Here’s How KuCoin Hacker Is Laundering Stolen Funds
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Here’s How KuCoin Hacker Is Laundering Stolen Funds

$150 mln in crypto gone, the community responds promptly

The crypto community quickly became aware of the attack and the $150 mln in crypto lost to the hacker.

Tron CEO Justin Sun and Binance chief CZ immediately responded, offering their help should any of the KuCoin funds land on Poloniex and Binance.

Besides, Sun said that TronScan would label the hacker's address so that any transfer of the stolen crypto could be tracked easily.

Tether acted by freezing $20 mln worth of USDT based on ERC20, as company CTO Paolo Ardoino announced.

The KuCoin team revealed that only its hot wallets were compromised, with the crypto going missing, and promised that all losses to customers would be compensated by the exchange.

Some, however, assume that this could have been made by someone inside the company with the prominent Chinese reporter Colin Wu among them; he cited an anonymous source from KuCoin.

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.