Hackers from Upbit Started Moving Funds
Korean exchange Upbit had a hack in 2019 where they lost 342,000 ETH. Worth to note that for very long time Bittrex was their custody wallet yet at some point they have decided to runn wallets on their own and seems made some mistakes.
UpBit Top10 Markets
Today some of the ETHs were moving to.. Binance 2,100 ETH went out. Worth to note - after the hack they didnt touch funds at all. This is first time.
Then they moved few more to unknown wallets.
The hack wallet still has 5,900 ETH because they were4 splitting those funds to make them hard to track.
Probably it took them a year to find secure idea and a system that allows withdrawal of the funds.
Despite huge hack Upbit remained operative and still runs on crazy volume of last 24h $130,416,256 USD / 14,540 BTC.
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This is very serious and a threat to the users who are holding their digital assets on the exchange. The hack is not a new thing in crypto world but I don't understand how come this exchange can repeat the same mistake. They have already gone through the same so they should have made thier wallets super safe. Is the exchnage going to bear this loss ?
It seems like having chips on exchanges is a risk.
Do you think it is safe to have funds on the exchanges? which are the safest?
Upbit, great and keep trying.
Hi Buddy,
As I remember this is not the first time they have already faced such security issue in the past and it really a bad situation for the exchange and for the trader. It will have a bad impact on its reputation and it will arise a trust issues. Are they going to continue their services after this huge loss?