$16M in Stolen Ethereum from Upbit Were Just Transferred

[cheezcarls]

Yesterday, the South Korean exchange Upbit was compromised and $50M of Ethereum (ETH) was reported stolen. $16.5M of that stolen ETH is on the move and has just been sent to another unknown wallet.

The hackers responsible for stealing from Upbit appear to finally be dispersing their plundered ETH. Whale Alert (@whale_alert) is reporting that around 109,270 ETH ($16.5M) has just been transferred to another unknown wallet.

Check the full news here

I know that this is another exchange hack news like the other ones in the past. It’s just unfortunate that these exchanges doesn’t have enough security measures to prevent hackers from bypassing their restrictions.

No matter how much creativity these security measures are, hackers are always finding ways to outsmart them or innovate something that would bypass even with the highest security feature of an exchange.

[Senin]

Interesting decentralization achievements - everyone knows that this large amount in ethereum has been stolen, anyone can watch its further movement through wallets and no one can do anything to return them to their rightful owner. Maybe it’s worthwhile for such cases to provide at least the possibility of blocking obviously stolen funds in wallets. Then the temptation of hackers will decrease. Everyone will know that vseravno the criminal will not be able to dispose of the stolen cryptocurrency.