According to the statement of Upbit

[CrownMade423]

“It lost almost US$50 million worth of ether (ETH) in an apparent security breach” and it goes from Hot wallet to an unknown wallet. I am curious to know, there is no way of tracing the money where it goes finally? After all, they will cash it out, right? So, we won’t be able to trace them anyway?

[Casdinyard]

“It lost almost US$50 million worth of ether (ETH) in an apparent security breach” and it goes from Hot wallet to an unknown wallet. I am curious to know, there is no way of tracing the money where it goes finally? After all, they will cash it out, right? So, we won’t be able to trace them anyway?

Who knows it could be an inside job. And obviously, whoever stole that will not definitely touch it until the issue subside. Somehow, upbit guys should hire someone to investigate, if they really want to get back their credibility.

Anyway, isn't their site insured?

[stomachgrowls]

https://etherscan.io/address/c7d64e6509333a3b68f6fc09d7d19404bfdd229a
https://etherscan.io/address/0xa09871aeadf4994ca12f5c0b6056bbd1d343c029

If we try to look at these tx. You can see that those amounts is being partitioned and had been sent out to various numbers of wallets.

Tracking it out? Possible but theres no way to retrieve those coins.

[safari88]

Possible but theres no way to retrieve those coins.

i think there is a way to retrieve those coins but as long it's deposited into binance exchange
because i saw an article before that if those coins deposited into binance then their account will be locked with the balance will be sent back to upbit

[stomachgrowls]

Possible but theres no way to retrieve those coins.

i think there is a way to retrieve those coins but as long it's deposited into binance exchange
because i saw an article before that if those coins deposited into binance then their account will be locked with the balance will be sent back to upbit

Only fools would tend out on directly depositing those hacked coins into a centralized exchange.Of course those addresses are already been blacklisted.

Therefore, if they do use it up directly then chances of hold up is there.Those hackers would be smart enough to shuffle out those coins to make it hard
to be traced.

Breaking down to several addresses and gradually cashout on various exchange.

[jossiel]

i think there is a way to retrieve those coins but as long it's deposited into binance exchange
because i saw an article before that if those coins deposited into binance then their account will be locked with the balance will be sent back to upbit

That's a fact that Binance helps out those victims if ever the hacked/stolen funds goes to their exchange. They are helping in a way that freezing that account but the chance of going there is very tiny.

These hackers are aware of centralization and they'll mix it with other coins before selling it.

[julerz12]

“It lost almost US$50 million worth of ether (ETH) in an apparent security breach” and it goes from Hot wallet to an unknown wallet. I am curious to know, there is no way of tracing the money where it goes finally? After all, they will cash it out, right? So, we won’t be able to trace them anyway?

Possible, maybe, of course, it is still a question if Upbit does want to trace it or not 
Doing so might also take some time, Upbit might need to hire a specialist to track it considering it is pretty much easy to mix the stolen coins with others.

Possible but theres no way to retrieve those coins.

i think there is a way to retrieve those coins but as long it's deposited into binance exchange
because i saw an article before that if those coins deposited into binance then their account will be locked with the balance will be sent back to upbit

Good job for Binance but I'm certain those hackers already know about this and wouldn't even think of sending those stolen ETH into Binance just to get it frozen.

[watergold]

Possible but theres no way to retrieve those coins.

i think there is a way to retrieve those coins but as long it's deposited into binance exchange
because i saw an article before that if those coins deposited into binance then their account will be locked with the balance will be sent back to upbit

If these coins are sent to binance then the funds will probably return to Upbit again, but the thieves always have a sense so people will not know where they are going to sell them, even though Upbit after hiring a specialist to research the tx then I think it does not exist for its purpose, the token will never return.