Upbit Hack Update: Hacker On a Spree to Liquidate Stolen ETH as 1000+ ETH Moves to 3 Exchanges

Cryptopia Hack

The ETH stolen from Upbit exchange on November 27, 2019 is moving. The hacker is dividing the ETH into smaller tranches and sending it to different exchanges and wallets. So far, over 1000 ETH have moved to 3 exchanges, implying that the hacker is trying to liquidate the stolen ETH. 

Stolen ETH Moved to Yobit and 60cek

On 27th November, major South Korean crypto exchange Upbit was hacked, and as a result, it ended up losing 342,000 ETH worth over $50 MM to the hackers. Upbit promptly updated the crypto community and announced that it would compensate the victims of the hack from Upbit’s corporate assets. Executives from many top exchanges including Binance, OKEx, KuCoin, Changelly and Huobi Global also came forward to support the hacked exchange and assured that they would try to stop the hacked funds from passing through their platforms.

It seems as if the hacker is not too worried about getting their funds blocked on exchanges. In fresh updates published on Coinness today, the hacker has moved more ETH to exchanges. As monitored by Tokenview, Russian exchange 60cek has received a total of 447 lost ETH of UPbit from the address starting with 0xad00f.

In another update published on Coinness, a total of 220 ETH stolen from Upbit stored in the address starting with 0xeae4e1 has also been transferred to crypto exchange 60cek. This batch of ETH has been transferred to Russia-based cryptocurrency exchange Yobit.net several transactions of 20 ETH per transaction.

Yesterday, the hacker had moved a sizeable portion of the 500 ETH transferred from the address starting with 0xad00f5 to Binance.

Majority of the ETH Transferred to Unknown Wallets

As shared by Whale Alert, the hacker is moving most of the stolen ETH to unknown wallets. Today, on 3rd December2019, the hacker moved 10,000 ETH ($1,489,598) to an un unknown wallet. From this unknown wallet, it sent 1,001 ETH ($149,275) and 10,000 ETH ($1,476,915) to two different unknown addresses soon after.

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