Topic: Hacker started to eliminate tokens stolen from KuCoin - page 5. (Read 1003 times)
Maybe the hacker will not send it right away the coin and wait until the situations are under control. The hacker will not risk selling it now as the case is still being "hot" in the crypto world. We will see the impact if the hacker sells the coin, and maybe the price will be a drop in a short time, but the price will be back to the last price. The hacker will have a plan for what they will do with the funds, and I don't think it's about selling all of the coins at once.
Kucoin team have already said they will reimburse all stolen fund and few projects have switch their smart contract making the stolen token worthless but project like DIA which plan to stick with it's decentralized utility plan not to switch to another smart contract, some plans are in motion already but I doubt they can fix the issue without switching to new smart contract
That means if the kucoin will be reimbursed the stolen funds that will not be swapped by the developer. Bitcoin has become the coin that will include being reimbursed by kucoin but a lot of coins have already started to swap their coins to make sure the tokens that being stolen became worthless tokens. Dia will be dumping so hard by the hackers.
ORN withdrawal has already opened started from this day.
Kucoin team have already said they will reimburse all stolen funds and few projects have switch their smart contract making the stolen token worthless but project like DIA which plan to stick with it's decentralized utility plan not to switch to another smart contract, some plans are in motion already but I doubt they can fix the issue without switching to new smart contract
This incident for the Kucoin is very tragedic and represents the misfortune of the exchange. As everybody knows that KuCoin is a very sincere and dedicated exchange towards the clients and the basic security for the trader and the investor's funds. But, the time comes now for the extra security while it is storing the funds. It should be completely decentralized or any cold storage wallet which should be function offline only for the client.
How in the world the hwcker is able to withdraw the tokens out of the kucoin exchange and how he is able to sell while staying anonymous and un-tracked, their is high chance that some kucoin employee and insider is involved who made a complete strategy at every step to avoid being caught.
Im not sure if the hacker will able to cash out his funds but the hacker is able to sell his tokens through the use of the decentralized exchange site. But to withdraw a lot of money and that needs very strict KYC verification which will never be done by the hacker. Im sure if the funds will only sit at his wallet and no more.
When the hacker was sending it to the exchange site and the tokens will be blocked automatically. Kucoin is also still in contact with so many coins to re-issued its token .
To withdraw big amounts of money is not an easy task.
If the hacker don't have a plan for withdraw but only plan to hack and steal funds then he has wasted time for nothing, what is the point of stealing funds which you can't cash out, lets see how smart of a hacker he is with cashing out the stolen funds, this hackers always come and complicate things when everything is about to go smoothly.
If this hacker is not caught and he is able to cashout the stolen money then more people will be encouraged to do so and every exchange will be under threat so it is very important to track and punish this hacker otherwise vulnerability can increase.
Even how people wanted to do such yet knowledge is not with them,These hackers are Gifted people and not just ordinary guy mate so dont just think thathacking is simple as that ,so encouraging hackers is not on the move because they ar already existing and waiting for a chance to move like
what this kucoin hacker does.
If this hacker is not caught and he is able to cashout the stolen money then more people will be encouraged to do so and every exchange will be under threat so it is very important to track and punish this hacker otherwise vulnerability can increase.
It will be really scary if the hacker actually gets away with this financial murder though I have a hunch that something will give s/he away. Something minute will blow his lead open. The eyes watching every address that the stolen funds are moved to and out of aren't daft not to pick up something to nail the hacker. Honestly, not resolving this will cause a lot of panic (there's panic already, I know) and uncertainty among traders. Just last year, Binance (almighty Binance) was also hacked though not at this huge loss. Kucoin hack is really terrifying and should be unravelled. I frankly suspect there is an insider angle to this hack. 
Wow so now, they are trying to start harvest what they have done? It is worrying actually about what they will probably do tot eh coins. Whether they will do some mixer or even sale with a very dump price.
But in this case, they are raising tokens/coins and now they are stolen and going to be sold at any rate. Will it influence the price? next? If yes, who are the most profitable people of this?
They also use different wallets. But if we can track the wallet, it means that we can know the exact however of that stolen coin/token?
But in this case, they are raising tokens/coins and now they are stolen and going to be sold at any rate. Will it influence the price? next? If yes, who are the most profitable people of this?
They also use different wallets. But if we can track the wallet, it means that we can know the exact however of that stolen coin/token?
This hacker do knows on what he's doing not just to those dumb kids who had hacked an exchange and do make use of coinbase which do really fucked them up.
So far on these transactions then theres nothing we can do and that hacker do knows how things do work and been dealing with dex exchangers which would make the
tracking even more harder.
Those amounts might not really be in total on the amounts he had totally stolen but those things will be gradually cashed out for sure.Theres nothing we can do unless
if he would leave up some trace on his trails but he's not really that dumb for him to do that.
So far on these transactions then theres nothing we can do and that hacker do knows how things do work and been dealing with dex exchangers which would make the
tracking even more harder.
Those amounts might not really be in total on the amounts he had totally stolen but those things will be gradually cashed out for sure.Theres nothing we can do unless
if he would leave up some trace on his trails but he's not really that dumb for him to do that.
If this hacker is not caught and he is able to cashout the stolen money then more people will be encouraged to do so and every exchange will be under threat so it is very important to track and punish this hacker otherwise vulnerability can increase.
They should really catch this hacker to make sure that something terrible like this wouldn't happen again but of course some of us are enjoying it riding the wave that is being created by this hacker.Taking advantage of the dump or pump that he is creating to ensure his stolen funds could be cleanse and cash out without a problem.
This is why people see crypto as a tool to money laundering because of such thing it is really hard to trace them specially if the person spread all of the crypto to uncertain number of wallets and put it all into mixer or random decentralized exchanges.
How in the world the hwcker is able to withdraw the tokens out of the kucoin exchange and how he is able to sell while staying anonymous and un-tracked, their is high chance that some kucoin employee and insider is involved who made a complete strategy at every step to avoid being caught.
Im not sure if the hacker will able to cash out his funds but the hacker is able to sell his tokens through the use of the decentralized exchange site. But to withdraw a lot of money and that needs very strict KYC verification which will never be done by the hacker. Im sure if the funds will only sit at his wallet and no more.
When the hacker was sending it to the exchange site and the tokens will be blocked automatically. Kucoin is also still in contact with so many coins to re-issued its token .
To withdraw big amounts of money is not an easy task.
Unless a hacker makes some stupid oversight, which is unlikely to happen, he will never be tracked down. It will work with decentralized exchanges.
Truth. The hacker probably is aware of that and won't do the same thing as the other hackers did when they were tracked down. But I'm still hoping that this casualty will be resolved and the hacker will finally get caught although I know that it's like one in a million chance to catch him if the hacked funds were already liquidated and went into circulation, replaced and converted into different assets.
Hope somewhere until the cash-out, the hacker will put some prints behind. At the moment we can watch only transactions happening here and there and to trace. Since everything is documented, someday, it will be known, at least some clue will be there down the line a few months.
This is a huge hack and massive funds have been stolen and the hacker is so smart that he has already sold tokens worth millions at dexes. This incident could well become the reason for the downfall of kucoin, I hope they will be able to keep up somehow but such huge money loss can damage any company to be honest.
I am not sure he really stole 200 million dollars worth of coins. Kucoin is still trusting how they could get it back and they are still standing still and they are allowing everyone to withdraw their money as well, there are tons of people who were afraid that they lost all their money during the hack and because of they wanted to withdraw and I have seen plenty of people able to withdraw their money.
I am not sure if this means Kucoin had more than 200 million dollars in wallet that is owned by them (profits) which I doubt is the case, or maybe hacker didn't even stole that much. If he really stole 200+ million dollars kucoin would have been done with already, they would have declared bankruptcy at the best and would request help to pay everyone their money.
I am not sure if this means Kucoin had more than 200 million dollars in wallet that is owned by them (profits) which I doubt is the case, or maybe hacker didn't even stole that much. If he really stole 200+ million dollars kucoin would have been done with already, they would have declared bankruptcy at the best and would request help to pay everyone their money.
i think, all of this has been planned from the start by hackers, especially with the next story in selling the coins from the theft. hackers certainly have smart brains and know what they have to do after getting the coins without being detected by anyone. so it's hard to track or find these hackers. moreover, they convert every coin they sell into ETH. It's hard to trace
How in the world the hwcker is able to withdraw the tokens out of the kucoin exchange and how he is able to sell while staying anonymous and un-tracked, their is high chance that some kucoin employee and insider is involved who made a complete strategy at every step to avoid being caught.
If this hacker is not caught and he is able to cashout the stolen money then more people will be encouraged to do so and every exchange will be under threat so it is very important to track and punish this hacker otherwise vulnerability can increase.
I wouldn't take it that way. A bank robber successfully escaping does not necessarily encourage more people to rob a bank as well.hopefully many exchanges gonna cooperate to stop the hacker or atleast froze the funds if the hackers happen to send the money to some exchange for quick swap.
Not sure if that's a good or a bad thing to happen. Freezing funds is exactly why a lot of us avoid centralized exchanges.It's kinda cool that we can trace all the movements of the funds that were stolen by the hacker.
The question is, can he still be traced when he tries to convert the ETH or USDT into FIAT so he can really use it to live from it the rest of his live.
Kucoin is probably tracking every movement of "their" coins so they have a chance to get the hacker once he wants to cash out.
If the hacker is smart enough, he/they will successfully cash out without leaving much of a trace behind. Stealing that much moeny is a very, very stupid move unless you already know how to leave close to no trace behind you when cashing out. As for the tracing part, is it really that cool that you can have your own funds tracked this easily? I mean, Bitcoin is awesome but I'm kinda skeptical about the tracing part. The question is, can he still be traced when he tries to convert the ETH or USDT into FIAT so he can really use it to live from it the rest of his live.
Kucoin is probably tracking every movement of "their" coins so they have a chance to get the hacker once he wants to cash out.
It won't be long till he can dump it all and go for BTC after. He is a hacker he will definitely want to find ways to make the coins clean when it goes out and dex is just a good tool for its purpose and then the mixing services. Its however just a big amount that its alarming if sent to a wallet suddenly but you can see he had been sending it to kyber and uniswap.
It's kinda cool that we can trace all the movements of the funds that were stolen by the hacker.
The question is, can he still be traced when he tries to convert the ETH or USDT into FIAT so he can really use it to live from it the rest of his live.
Kucoin is probably tracking every movement of "their" coins so they have a chance to get the hacker once he wants to cash out.
The question is, can he still be traced when he tries to convert the ETH or USDT into FIAT so he can really use it to live from it the rest of his live.
Kucoin is probably tracking every movement of "their" coins so they have a chance to get the hacker once he wants to cash out.
Doesn't eth have a working mixer yet?
Technically he could sell those for cash in person divided in smaller amounts as well but that would be even more risky as well because many people would see his face.
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