Upbit hack: Stolen ETH worth millions on the move to unknown wallets
There’s been some new developments after 342,000 ETH was stolen from the hot wallet of major South Korean crypto exchange Upbit.
According to Whale Alert, a service monitoring large transactions, one of the addresses involved in the theft has been moving ETH worth millions of dollars to an unknown wallet.
Dodgy transfers have been taking place throughout the week in chunks of 10,000 ETH and 1,001 ETH — worth about $1.5 million and $150,000 respectively. After news emerged that the funds, worth about $50 million, had been stolen, some analysts suggested that an “inside job” was more likely than an external breach.
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