BREAKING: Upbit hacked for 342,000 ETH, Massive TRX & XLM moves also

Upbit has reportedly been hacked for 342,000 ETH in recent hours. Notably a large number of TRX and XLM transfers have also moved out of Upbit and into Bittrex however Upbit have not made any statements on these additional moves as yet.

Twitter is awash with Exit Scam rumours but it is more likely that these additional transfers have been to Cold Storage to protect vulnerable coins.

Total hacked / moved:

  • $49m in ETH
  • $22m in EOS
  • $8.7m in XLM
  • $3.5m in BTT
  • $3.4m in SNT
  • $1.51m in TRX
  • $1.08m in OMG

Upbit Hacked


Notice:

Here are the reasons for suspension of cryptocurrency deposit and withdrawal service and emergency server check.

Posted on November 27, 2019 17:56

My name is Lee Seok-Woo, CEO of Doo-Tum.

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.

Upbit 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.

We expect it to take at least two weeks for your funds 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)

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Disclaimer

The views and opinions expressed on Wise Cryptos are solely those of the author(s) and are not intended to be taken as investment advice.

Trading of any form (be that stocks and shares, forex or cryptocurrencies) involves high risk so please do your due diligence before making any trading decision.

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