South Korean cryptocurrency exchange UPbit has been hacked, losing nearly $50M worth of ether (ETH) cryptocurrency.
Announcing the news on Wednesday, UPbit said 342,000 ETH (cur...
South Korean cryptocurrency exchange UPbit has been hacked, losing nearly $50M worth of ether (ETH) cryptocurrency.
Announcing the news on Wednesday, UPbit said 342,000 ETH (currently worth nearly $50 million) were transferred from its ethereum “hot” wallet to an unknown wallet, adding: “Unknown wallet address is 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029”
As a result, UPbit has now transferred “all” cryptocurrencies from its “hot” wallet to a “cold” wallet and said it will cover the losses via its assets.
Before releasing the hack details, UPbit suspended cryptocurrency deposits and withdrawals due to service checks. In the update, the exchange said it will take “at least two weeks” for the deposit and withdrawal to resume.
Earlier today, Whale Alert, a Twitter service that monitors blockchain transactions, mentioned that massive withdrawals worth over $51 million took place via UPbit. Several cryptocurrencies and tokens such as ether (ETH), Tron (TRX) and BitTorrent (BTT) were transferred to unknown wallets and Bittrex exchange, per Whale Alert.
The massive withdrawals did raise suspicions, with several people on social media calling it a hack.
This is a developing story...
source https://www.tokentalk.co/The Block/south-korean-crypto-exchange-upbit-gets-hacked-loses-nearly-50m-worth-of-ether-5dde4291e3d371845c86a477
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