$16M in Stolen Ethereum from Upbit Were Just Transferred

[TastyChillySauce00]

Looks like it will be not so simple to withdraw this money for hackers. Everybody are watching for them

Well every movement is literally reported by media and as you said it's not simple. That's why I've repeatedly saying that chance the hackers is going to cash out at the moment is slim. it's more likely that they will deposit it to their cold wallet and leave it for months or even years after this case is not a thing anymore however I'm pretty sure that the entire crypto community will always watch the address' every movement just like how we can know the movement of every whale address without any effort.

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[watergold]

Hackers are now getting smarter and amazingly large exchanges of Upbit Korea can easily be hacked even 2x $ 50 million and $ 16 million (Ethereum form)
Yes, this could be a hacker who will become a new whale and continue to control the market as they like because with large capital will have enough influence on the market.

[SabrinaBianka]

Yesterday, the South Korean exchange Upbit was compromised and $50M of Ethereum (ETH) was reported stolen. $16.5M of that stolen ETH is on the move and has just been sent to another unknown wallet.

The hackers responsible for stealing from Upbit appear to finally be dispersing their plundered ETH. Whale Alert (@whale_alert) is reporting that around 109,270 ETH ($16.5M) has just been transferred to another unknown wallet.

Check the full news here

Well, well, well.....here goes another exchange hack news again. It’s a whooping $16M worth of Ethereum! My freakin’ goodness!

Not even the most popular exchange, Binance, is safe from these hackers. No matter if these exchanges have installed high security measures, the hackers are always coming back in a new and innovative way to counter those security measures even up to the highest level.

For me, these hackers are using their superb intelligence and have a “whatever it takes” attitude to take risks in hacking those exchanges and stealing Bitcoin, Ethereum and other forms of cryptocurrencies.

As of now, I honestly think that if this one continues, hackers would become whales and become one of those who can control the cryptocurrency market.

That too hurts! It means that exchange hasn't highly security. Or it means all exchange are not secured to all hackers. What ever it takes and what ever they chose if what exchange they targeted to hack or to rub all crypto. They are using their knowledge to start crime that not good in this cryptocurrency world.

[shodik007]

Looks like it will be not so simple to withdraw this money for hackers. Everybody are watching for them

it should, it would be better if cases like this all exchanges help freeze the hacker's balance if they want to enter in exchanges such as binance, bittrex, okex etc. this will be difficult for hackers when they want to attract hacking funds

[aTriz]

Looks like it will be not so simple to withdraw this money for hackers. Everybody are watching for them

Well every movement is literally reported by media and as you said it's not simple. That's why I've repeatedly saying that chance the hackers is going to cash out at the moment is slim. it's more likely that they will deposit it to their cold wallet and leave it for months or even years after this case is not a thing anymore however I'm pretty sure that the entire crypto community will always watch the address' every movement just like how we can know the movement of every whale address without any effort.

I don't think entire community keep watching them forever. soon people will forget them. and they'll be able to easily move the coins anonymously and cashout them easily.

Hackers are now getting smarter and amazingly large exchanges of Upbit Korea can easily be hacked even 2x $ 50 million and $ 16 million (Ethereum form)
Yes, this could be a hacker who will become a new whale and continue to control the market as they like because with large capital will have enough influence on the market.

Hackers are always smarter then normal people. I don't think these thief hackers are interested in being whale and influence the market. they mostly rush to withdraw and runaway.

[bitcampaign]

maybe they are working with the team so that they divide to several wallet addresses, share the income from hacking before, I want to know where they will sell the ETH or whether they will keep it in the wallet so that upbit still compensates for losing their users' money, so let's see next news

[Google+]

maybe they are working with the team so that they divide to several wallet addresses, share the income from hacking before, I want to know where they will sell the ETH or whether they will keep it in the wallet so that upbit still compensates for losing their users' money, so let's see next news

indeed such a conjecture can occur because we all know that a lot of drama that occurs at the exchange place that often happens is where the exchange is hit by hacking and makes many traders suffer losses, if you want to track it then hackers will try to randomize the transaction so it will be very difficult to tracking transactions.

[jazmuzika217]

Honestly this kind of cases are now increasing. So we need to be careful and stay away to the site and link that has a big possibility of scam and fraud. This is very alarming and yet there will never a solution except of being carefull in every action that you do here in crypto world beacuase government did not recognized any stolen coin because all we know that crypto is not in legal stage.

[Xcode7]

maybe they are working with the team so that they divide to several wallet addresses, share the income from hacking before, I want to know where they will sell the ETH or whether they will keep it in the wallet so that upbit still compensates for losing their users' money, so let's see next news

indeed such a conjecture can occur because we all know that a lot of drama that occurs at the exchange place that often happens is where the exchange is hit by hacking and makes many traders suffer losses, if you want to track it then hackers will try to randomize the transaction so it will be very difficult to tracking transactions.

I heard that the upbit has a way to track the hacked transaction, they label the transaction, but the hacker certainly manipulates the transaction. hope the hacking funds can be tracked because they hurt many parties in the upbit

[kynaz]

Hackers are now getting smarter and amazingly large exchanges of Upbit Korea can easily be hacked even 2x $ 50 million and $ 16 million (Ethereum form)
Yes, this could be a hacker who will become a new whale and continue to control the market as they like because with large capital will have enough influence on the market.

I think once they hack a big asset they don't need to be a whale because for them this market is just a tool to make money. Currently, they are free to trade without fear because the market is anonymous. In my opinion, to hack an exchange, they are really very smart and very few people can do this because breaking into the system is very difficult and not everyone is lucky to do this.

[Landak]

from my perspective, why only ethereum was stolen, why not all of bitcoin and the erc20 tokens as well. and why this also happens when the moment like this, looks like a "drama" but the issue is immediately ignored by the upbit, and upbit bravely responsible for returning all ethereum stolen by hackers. I know hackers are getting smarter but it's still weird, only ethereum is stolen. Even so, hopefully with incident like yesterday, I hope other market exchanges will start to increase security so that the same incident does not recur.

[nomenclatur]

indeed hackers always make the market a mess of their crypto steal eth with a large number of them are always looking for loopholes in exchange upbit exchanges are very popular and exchange the exchange of reliable security hacker who is quite tight very dodgy looking for an opportunity to take eth or tokens to exchange that has a large volume they are very clever and cunning.

[ganeshramk]

Sometimes I feel like there should be some gaps for the ETH foundation to step such scammed distribution from that wallet once its found to be from wrong doings. Then only this scams can be controlled.

[zahed]

This is a crazy story. This morning I also heard that IDAX owner ran away with cold wallet keys. Not very sure where the whole crypto is moving. By seeing all these bad things, crypto market will not survive for long.

Yeah that's true and it's very bad news for the crypto space. Many people lost their hold assets also i have some asset here now i can't withdraw it.
IDAX was suspecious activities a few months ago happened. A lot of projects making accusation against regarding this exchange.

[fuer44]

more and more theft cases. an exchange that is designed with security and consumer protection can still be stolen? this bothers my mind a little, is it really hacked or are they manipulating it for their personal purposes?

[DabsPoorVersion]

more and more theft cases. an exchange that is designed with security and consumer protection can still be stolen? this bothers my mind a little, is it really hacked or are they manipulating it for their personal purposes?

That is something that is still unknown.
It is really bothersome in every user, even a secured exchange is still unsafe even having tight security. This is very alarming that we should consider that anytime any exchange even a popular one can have a case like this.

[zenhu]

Sad to heard this news, hacker have succesfully stolen an exchange asset and just sent to their address. So it must be alert for all crypto people to give more security for their account or wallet.
I think that hacker will sell thier Ethereum to non-exchange company, they can sell to people or their friend and they can just laundry that coin. They not to be whales in crypto market.

[ashmodeus]

from my perspective, why only ethereum was stolen, why not all of bitcoin and the erc20 tokens as well. and why this also happens when the moment like this, looks like a "drama" but the issue is immediately ignored by the upbit, and upbit bravely responsible for returning all ethereum stolen by hackers. I know hackers are getting smarter but it's still weird, only ethereum is stolen. Even so, hopefully with incident like yesterday, I hope other market exchanges will start to increase security so that the same incident does not recur.

well , according to info i get , its possible from inside job rather than external breach ."The ‘hacker’ timed when UPbit was making crypto transfers to its cold wallet (other alts like TRON, etc.) "
so that why , on that  time, probably the hacker just knew the time of transfer ETH from hot wallet to cold wallet.

[Bananington]

Sad to heard this news, hacker have succesfully stolen an exchange asset and just sent to their address. So it must be alert for all crypto people to give more security for their account or wallet.
I think that hacker will sell thier Ethereum to non-exchange company, they can sell to people or their friend and they can just laundry that coin. They not to be whales in crypto market.

Majority of crypto enthusiasts are aware of this security issues with centralized exchanges, but sometimes hacks take traders unawares. What if you store your coins in personal wallet and only send to exchange when you intend trading, then the hack occurs after you deposit ? Exchanges should upgrade/advance security protocols and users should be careful too. These hackers keep bringing up new hacking techniques, Some situations are rather unfortunate.

[awakpane]

Maybe this is one of the reasons why Ethereum prices have decreased very significantly. the question is, how could Ethereum be stolen so much in the amount of money?