i am not sure how they will track it, if he send LINK to an unknown address, that is the end for tracking?
the money could still be traced, it's blockchain after all, you will know where the money goes and it seems the hacker is trying to move around the money to remove its trace like money laundering which I hope someone could still follow up and figures where the money went. 
Topic: Hacker started to eliminate tokens stolen from KuCoin - page 6. (Read 986 times)
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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.
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.
I think if you are building even a decentralized exchange, it's important to design it to prevent proven crime money ( likely still in the hands of thieves) from flowing/exchanging through it. The stolen fund is something a fast system should be able to detect and a transparent community block it(via consensus) from getting exchanged on exchange
Stolen fund should ordinarily lose its Censorship resistant right on decentralized network.
Stolen fund should ordinarily lose its Censorship resistant right on decentralized network.
Unless a hacker makes some stupid oversight, which is unlikely to happen, he will never be tracked down. It will work with decentralized exchanges.
The first thing that we must remember if the hacker has ever tried to send the first tx to the exchange site. Basically, when you are using the dex and it can also be tracked as when the smartcontract will be sending back the amount into your old wallet. Just look at how the hacker was trying to get more and more ethereum and then sending it to the one address.
There will be another question about how you can cash out your money while all of exchange sites have been blocking the ways for the hacker to cash your a lot of money?
Unless a hacker makes some stupid oversight, which is unlikely to happen, he will never be tracked down. It will work with decentralized exchanges.
The hackers are so intelligent that they can be sold those coins like no one is watching them. the anonymity of each token is really hard to track and those hackers are clever enough to choose those coins to steal. Now the authority cannot help but only to watch those transactions being made one after another. If these hackers can be tracked with the current movement of their transactions, hacking of the exchanges may drastically lower to the point that no one gonna hack exchanges anymore because they are tracked sooner or later.
i am not sure how they will track it, if he send LINK to an unknown address, that is the end for tracking?
hackers will be always there, and it is important for exchanges to take this issue seriously, although this industry is very young and most of mistakes are done by exchange team members, that ease job for hackers, education for operators should be better
hackers will be always there, and it is important for exchanges to take this issue seriously, although this industry is very young and most of mistakes are done by exchange team members, that ease job for hackers, education for operators should be better
This still possible to trace so if the hacker is not careful it can be identify one of the day if they continue tracking it . Any news how kucoin want to resolve this hacking incident to them or if that exchange still secured to use by users.
It will reduce their daily liquidity if they cant make solution for this something like safu that they can give to users that's lost his balance.
It will reduce their daily liquidity if they cant make solution for this something like safu that they can give to users that's lost his balance.
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.
The hacker, who stole about $ 200 million in various cryptocurrencies and tokens from the KuCoin exchange, is gradually exchanging the assets at his disposal for Ethereum using decentralized services.
According to the analytical resource Whale Alert, 50,000 LINK ($ 530,000) were sent from his wallet to an unknown address today at 11:53 Moscow time.
In total, several such transfers were recorded. OKLink analysts claim that he decided to use the Kyber Network decentralized exchange to exchange LINK for Ethereum.
The hacker has at his disposal about $ 2 million in LINK, which is significantly less than in some of the other assets he stole. Not long before that, he conducted similar transactions with SNX tokens worth $ 6.7 million and OCEAN. To exchange them, he used the Uniswap decentralized exchange.
https://cryptocurrency.tech/haker-nachal-likvidirovat-tokeny-pohishhennye-s-kucoin/
UPDATED:
The hacker sold:
320k OCEAN (worth $ 120K).
578k SNX ($ 2.9M)
10K COMP ($ 1.35M)
203k LINK ($ 2.16M)
10k DIA on the go
According to the analytical resource Whale Alert, 50,000 LINK ($ 530,000) were sent from his wallet to an unknown address today at 11:53 Moscow time.
In total, several such transfers were recorded. OKLink analysts claim that he decided to use the Kyber Network decentralized exchange to exchange LINK for Ethereum.
The hacker has at his disposal about $ 2 million in LINK, which is significantly less than in some of the other assets he stole. Not long before that, he conducted similar transactions with SNX tokens worth $ 6.7 million and OCEAN. To exchange them, he used the Uniswap decentralized exchange.
https://cryptocurrency.tech/haker-nachal-likvidirovat-tokeny-pohishhennye-s-kucoin/
UPDATED:
The hacker sold:
320k OCEAN (worth $ 120K).
578k SNX ($ 2.9M)
10K COMP ($ 1.35M)
203k LINK ($ 2.16M)
10k DIA on the go
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