Why replenish an already compromised wallet? Hacked wallet balance already - 4.726 ETH
I think they have just some automation left in places.
Topic: Upbit exchange was hacked. 342,000 ETH lost - page 3. (Read 933 times)
I wonder if they know how did this happen yet? I mean these are such an insane sum and the early days it would have caused insane dumps, today you would have to be really smart criminal to even unload this in anywhere. My guess is that people who steal this kind of sums now are bound to get caught in the future.
I think they have just some automation left in places.
I think they have just some automation left in places.
That amount is not a joke anymore. I think SEC will probably be alarm on cases of hack. I hope Upbit can still managed to carry out their promise to refund all affected users. That's why Ive noticed that the market cap drop again so badly. I'm starting to lose hope that it can still be on a good position before the year 2019 end.
thats a disaster!!
every year few exchanges being hacked
industry leaders are working on it, and will block any funds that will come to Binance or other big exchanges
but there is a big black market and i think that it'll be sold anyway
there is a mixer for ethereum funds so if they do that, you can not track the coins
(or maybe the mixer is not ready yet but i saw something about it on twitter)
Not all of ethereum mixer can be trusted. I don't even believe mixer can deliver your ethereum if you will be mixing thousand of ethereum today. There is not place to send that amounts to the exchange site consider the exchange site will ask you to do a high tier of verification process. To sold that in the black market is not so easy. There was a lot of scammers these days. every year few exchanges being hacked
industry leaders are working on it, and will block any funds that will come to Binance or other big exchanges
but there is a big black market and i think that it'll be sold anyway
there is a mixer for ethereum funds so if they do that, you can not track the coins
(or maybe the mixer is not ready yet but i saw something about it on twitter)
it looks like if that was coming from the insider of the upbit itself who has been stealing that ethereum and sent it to the unknown wallet.
Upbit is not giving a clear answer about what makes that exchange site is getting stolen by scammer. What has already mentioned by upbit is about the detail about the amount that already stolen.
thats a disaster!!
every year few exchanges being hacked
industry leaders are working on it, and will block any funds that will come to Binance or other big exchanges
but there is a big black market and i think that it'll be sold anyway
there is a mixer for ethereum funds so if they do that, you can not track the coins
(or maybe the mixer is not ready yet but i saw something about it on twitter)
every year few exchanges being hacked
industry leaders are working on it, and will block any funds that will come to Binance or other big exchanges
but there is a big black market and i think that it'll be sold anyway
there is a mixer for ethereum funds so if they do that, you can not track the coins
(or maybe the mixer is not ready yet but i saw something about it on twitter)
I really respect this Upbit in handling their wallets that are hacked by someone. They did not panic but promised to take care of the funds of the people who had funds in the Upbit.
Moreover, the nominal that is taken by the hacker is very large, worth 340k ETH is very fantastic once nominal. Hopefully, the Upbit party can be patient on this issue.
Moreover, the nominal that is taken by the hacker is very large, worth 340k ETH is very fantastic once nominal. Hopefully, the Upbit party can be patient on this issue.
And then the entire cryptocurrency market, including ethereum pumps? WTF.
This is exactly why I tend to stay away from altcoin markets, I don't see why more than $50 million in ETH about to be dumped onto the market is in anyway bullish.
Glad I dumped by ETH back at $280.
This is exactly why I tend to stay away from altcoin markets, I don't see why more than $50 million in ETH about to be dumped onto the market is in anyway bullish.
Glad I dumped by ETH back at $280.
This is getting out of hand and it is one of those things that always portray crypto as scam entity. For how long are we going to continue with crypto exchange hack. Exchanges need to do more to protect their platform and the name of the industry. How can we be sure that many of this hack cases are not done by insiders
At 13:06 on November 27, 2019, 342,000 ETH (approximately 58 billion won) were transferred from the Ethereum Hot Wallet to an unknown wallet.
UpBit says it will cover losses worth $51.3 million with corporate funds.
Unknown wallet address: 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029
https://upbit.com/service_center/notice?id=1085
UPD1: It is also rumored to have additionally stolen BTT worth more than $ 3.5 million and TRX worth more than $ 17 million. Perhaps this will be announced later. After the withdrawal of ETH to unknown wallets from the exchange, BTT with TRX moved to unknown wallets.
UPD2: Funds in the amount of 342,000 ETH were stolen from the Upbit wallet, funds began to be received again, in different amounts, it seems from the exchange team. A logical question arises. Why replenish an already compromised wallet? Hacked wallet balance already - 4.726 ETH
UpBit says it will cover losses worth $51.3 million with corporate funds.
Unknown wallet address: 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029
https://upbit.com/service_center/notice?id=1085
UPD1: It is also rumored to have additionally stolen BTT worth more than $ 3.5 million and TRX worth more than $ 17 million. Perhaps this will be announced later. After the withdrawal of ETH to unknown wallets from the exchange, BTT with TRX moved to unknown wallets.
UPD2: Funds in the amount of 342,000 ETH were stolen from the Upbit wallet, funds began to be received again, in different amounts, it seems from the exchange team. A logical question arises. Why replenish an already compromised wallet? Hacked wallet balance already - 4.726 ETH
This is not good, for the image of cryptocurrency of course. An Ethereum was stolen by hacker with the unknown address, every time there is a case like this the image also of all the platform exchange are getting affected by it too, but the good thing I saw from UPBIT, they are willing to take full responsibility about what happened, meaning the volume of this exchange was not a joke, it is extremely huge in the market.
bitcoin and altcoin prices began to fall when news of the upbit exchange was hacked.
Doesn't anyone think all of this is just speculation made to influence market prices and be used for certain interests?
This has also happened in the biggest exchange binance today.
Although around 340k ETH was withdrawn from upbit to an unknown wallet, the upbit will continue to replace it so that no user is harmed.
Doesn't anyone think all of this is just speculation made to influence market prices and be used for certain interests?
This has also happened in the biggest exchange binance today.
Although around 340k ETH was withdrawn from upbit to an unknown wallet, the upbit will continue to replace it so that no user is harmed.
UpBit says it will cover losses worth $51.3 million with corporate funds.
This is what they all have to do. If they were hacked, they should take full responsibility of it, they should handle it just like Binance when a trouble came to them. Sure it's a big money but it's all their customers fund and they should return it no matter what the situation is. But hey, I've checked the wallet too and it's now containing the original amount.Funds returned and coming in from 'Upbit Hacker 1'.
market sentiment will negative again although they recover customers fund. Investors will afraid if this eth dumped in market and жmake market crashing again. They only could tagging address , there is no way to freeze this wallet so far. And maybe by this case blockchain developers will developt this feature in order to prevent same case happen again in future.
of course this affects the market even though the hacked ethereum is still stored in its address. it is not easy to implement security like that, we can see the bank if there are cases of fraud or things that are detrimental to other customers the bank cannot immediately block the offender's card, I think ethereum developers will also think of thatThe hope is that everything related to cryptocurrency and its use is still developing and that in the future ways will be found to ensure complete security for exchange customers.
I wonder, why Korean exchanges are often hacked? And this incident triggers the fall of all crypto prices on the market. I hope the exchange can solve this problem immediately and not harming their users, because the 342k ETH that was stolen was worth 48.6 million dollars and this is a bad incident at the end of the year for the crypto industry.
What matters is effort being made to recover from these losses. I think anything online can be hacked and crypto exchanges are big targets for hackers. If they have confidence in insuring loss of funds will be recovered then I think investors should be satisfied and the Market should bounce back stronger
Bitfinex was hacked too, they still operate. Exchanges like Mt.Gox, cryptsy, cryptopia on the other hand just collapsed after the hack and let the lawyers take care of the rest which is not really a good thing because it take years... If the hack was too big, even the company assets wouldn't be enough to save the people's balances.
If UpBit is going to pay $48.6m from their own pockets, that's probably the best news ever for those who had money on that exchange.
And this is EXACTLY why you guys should STOP using centralized exchanges, and move on to DECENTRALIZED exchanges.
These exchange hacks will happen again and again, as long as people is too stupid to hold their coins on exchanges.
My favorite DEX on the market right now is Blocknet, which also does oracles like Chainlink, just way cheaper and more decentralized, making it an awesome long term hold, as once people realizes their true potential, it should sky rocket.
These exchange hacks will happen again and again, as long as people is too stupid to hold their coins on exchanges.
My favorite DEX on the market right now is Blocknet, which also does oracles like Chainlink, just way cheaper and more decentralized, making it an awesome long term hold, as once people realizes their true potential, it should sky rocket.
With the market just recovering from a sharp fall, this news would act as a resistance to the correction. There are repeated hacks on the centralized exchanges but yet we are not being able to devise a hack proof system. Though currently most of the exchanges covers the loss from their own profit not affecting the normal users, still such incident would have a wrong impact on investors.
This hack of an issue is becoming a trend now, sometimes I want to believe that there are more to the hack than what we are made to believe. My advice is to make sure you secure your fund and also use 2fa for your crypto exchanges . Also we should use trusted exchanges to trade our coins.
At 13:06 on November 27, 2019, 342,000 ETH (approximately 58 billion won) were transferred from the Ethereum Hot Wallet to an unknown wallet.
UpBit says it will cover losses worth $51.3 million with corporate funds.
Unknown wallet address: 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029
https://upbit.com/service_center/notice?id=1085
UPD1: It is also rumored to have additionally stolen BTT worth more than $ 3.5 million and TRX worth more than $ 17 million. Perhaps this will be announced later. After the withdrawal of ETH to unknown wallets from the exchange, BTT with TRX moved to unknown wallets.
UPD2: Funds in the amount of 342,000 ETH were stolen from the Upbit wallet, funds began to be received again, in different amounts, it seems from the exchange team. A logical question arises. Why replenish an already compromised wallet? Hacked wallet balance already - 4.726 ETH
By etherscan website I saw same information. We should hold our money for long term in the exchange. Although Binance exchange refund the money after hacked exchange. But upbit lose their trust from users even they do the same as Binance exchange. But I liked this exchange and used it. UpBit says it will cover losses worth $51.3 million with corporate funds.
Unknown wallet address: 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029
https://upbit.com/service_center/notice?id=1085
UPD1: It is also rumored to have additionally stolen BTT worth more than $ 3.5 million and TRX worth more than $ 17 million. Perhaps this will be announced later. After the withdrawal of ETH to unknown wallets from the exchange, BTT with TRX moved to unknown wallets.
UPD2: Funds in the amount of 342,000 ETH were stolen from the Upbit wallet, funds began to be received again, in different amounts, it seems from the exchange team. A logical question arises. Why replenish an already compromised wallet? Hacked wallet balance already - 4.726 ETH
At least Upbit claims they will cover the loss from their own assets and the client's funds will remain unharmed.
Korean exchanges are good for arbitraging and Upbit are serious until now.
Hopefully this problem is quickly resolved
UpBit exchange is facing a lot of unsafe risks. so we need to be very careful. A large amount of money is being transferred into an unknown wallet for unknown reasons but the important thing is whether this project can survive or not.
It's okay to anticipate you can provide information that does not save or use UpBit exchange. but judging from the problems in all exchanges, we certainly do not avoid the risk of hacking like UpBit. all that remains is for the exchange to take responsibility or not to provide protection by returning its customers. as long as he wants to be responsible is something that we should appreciate and don't need to fear, though it might take time to cover up everything. but if he is not responsible this will be the problem. 
I wonder, why Korean exchanges are often hacked? And this incident triggers the fall of all crypto prices on the market. I hope the exchange can solve this problem immediately and not harming their users, because the 342k ETH that was stolen was worth 48.6 million dollars and this is a bad incident at the end of the year for the crypto industry.
I think these hacks are an insider job or from a big hacking group, not an ordinary guy or two can hack such big exchanges. Irony is that these hacks are on rise rather then going down. Dont know whether Upbit is strong enough to cover these loses asap to maintain trust of there clients which is very important in continuing business.
UpBit exchange is facing a lot of unsafe risks. so we need to be very careful. A large amount of money is being transferred into an unknown wallet for unknown reasons but the important thing is whether this project can survive or not.
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