It's nice to see etherscan have this
A small way of helping inform the community who frequently use etherscan. It may also make it harder for the hacker to sell
Topic: Upbit hacked - page 2. (Read 261 times)
That amount is no joke for any company, Upbit will have to shutdown sooner or later if these hacks keeps on happening to them. Another one of the many proofs that no system is safe.
It's nice to see etherscan have this
A small way of helping inform the community who frequently use etherscan. It may also make it harder for the hacker to sell
It's nice to see etherscan have this
A small way of helping inform the community who frequently use etherscan. It may also make it harder for the hacker to sell
This is bad news especially as it is a centralized exchange that should know what to do to further protect their protection against hackers.
So it is always the reminder of experts that we should not give full trust to centralize exchanges especially since it is prone to hacking incidents.
So it is always the reminder of experts that we should not give full trust to centralize exchanges especially since it is prone to hacking incidents.
If my memory serves me right, this is not the first time that Upbit was hacked. Or it was targeted by the North Koreans in the past, so I'm sure they should have known better. Anyways, there are reports surfacing that there are some sort of Signs Point to Inside Job in Upbit Crypto Exchange Hack, Says Commentator.
https://twitter.com/iamjosephyoung/status/1199625442312908801?s=20
https://twitter.com/iamjosephyoung/status/1199625442312908801?s=20
Quote
The "hacker" timed when UPbit was making crypto transfers to its cold wallet (other alts like TRON, etc.)
Hence, I think the probability of it being an inside job is higher than external breach.
No details are certain for now. Will continue to update.
Hence, I think the probability of it being an inside job is higher than external breach.
No details are certain for now. Will continue to update.
A 50M$ worth of ETH will not gonna affect that much the whole crypto market since it will not be sold by the hacker in one time or else they might caught up.
The only scenario that I can see right now for that news, Is ETH will dump more due to FUD of this news even though there will be no massive dumping from the hacker.
This might be the reason why BTC recently revisit the 6.9k level but already recover now.
The only scenario that I can see right now for that news, Is ETH will dump more due to FUD of this news even though there will be no massive dumping from the hacker.
This might be the reason why BTC recently revisit the 6.9k level but already recover now.
ANOTHER Korean hack? Do they all have DPRK agents embedded in them who siphon stuff off whenever the wallets are looking particularly healthy? My guess is that every exchange operator over there is permanently drunk.
This is what happens when exchanges feel so confident with their internal security and keeping a lot of held assets in their hot wallet.
Funds are not safu on all centralized exchanges. I don't know how many times we should be reminded of this.
It's good that Upbit has enough assets to cover the hacked amount. If it was others, they would have shutdown like what happened to Cryptopia.
Funds are not safu on all centralized exchanges. I don't know how many times we should be reminded of this.
It's good that Upbit has enough assets to cover the hacked amount. If it was others, they would have shutdown like what happened to Cryptopia.
Quote
Here are the reasons for suspension of cryptocurrency deposit and withdrawal service and emergency server check.
Posted on November 27, 2019 17:56 | Views 42988
I am Lee Seok-woo, CEO of Doo-myeon who operates Upbit.
First of all, I apologize for any inconvenience this may cause to you.
At 1:06 PM on November 27, 2019, 342,000 ETH (approximately 58 billion won) were transferred from the Upbeat Ethereum Hot Wallet to an unknown wallet.
Unknown wallet address is 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029
As soon as we confirmed this, we started responding.
Upbeat responds as follows to protect members' assets.
To ensure that your assets are harmed, 342,000 ETH transferred to unknown wallets will be covered by upbit assets. We're working on it, and I'll tell you as soon as I'm done.
All cryptocurrencies in Hot Wallet have been transferred to Cold Wallet.
It is estimated that it will take at least two weeks for the deposit and withdrawal to resume. I'll tell you again when this is done.
Ethereum is the only trade out of the bulk transactions, and the rest of the bulk trades have moved all cryptocurrencies in Hot Wallet to Cold Wallet.
If there are any other changes, I will tell you again.
Lastly, the exchange manager who handles cryptocurrency asks you to prevent deposits from the Ethereum address where the abnormal withdrawal has occurred. Please report to Upbit Customer Center.
Report to Upbit Customer Center (open 24 hours)
Representative of the cedar tree
Posted on November 27, 2019 17:56 | Views 42988
I am Lee Seok-woo, CEO of Doo-myeon who operates Upbit.
First of all, I apologize for any inconvenience this may cause to you.
At 1:06 PM on November 27, 2019, 342,000 ETH (approximately 58 billion won) were transferred from the Upbeat Ethereum Hot Wallet to an unknown wallet.
Unknown wallet address is 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029
As soon as we confirmed this, we started responding.
Upbeat responds as follows to protect members' assets.
To ensure that your assets are harmed, 342,000 ETH transferred to unknown wallets will be covered by upbit assets. We're working on it, and I'll tell you as soon as I'm done.
All cryptocurrencies in Hot Wallet have been transferred to Cold Wallet.
It is estimated that it will take at least two weeks for the deposit and withdrawal to resume. I'll tell you again when this is done.
Ethereum is the only trade out of the bulk transactions, and the rest of the bulk trades have moved all cryptocurrencies in Hot Wallet to Cold Wallet.
If there are any other changes, I will tell you again.
Lastly, the exchange manager who handles cryptocurrency asks you to prevent deposits from the Ethereum address where the abnormal withdrawal has occurred. Please report to Upbit Customer Center.
Report to Upbit Customer Center (open 24 hours)
Representative of the cedar tree
https://upbit.com/service_center/notice?id=1085
So it looks like we have another bad news in the market, as Upbit has officially admitted that they have lost 342,000 ETH (around < $50 million if my math is correct). So brace yourself for another downside because of this news.
https://etherscan.io/address/0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029
Jump to: