Approx $50M In Ethereum stolen from Upbit Exchange

[S.coastapps]

Upbit, the second “Enormous Four” South Korean crypto exchange reported a burglary on Nov. 27. 342,000 Ethereum (ETH) which is commensurate to around $50 million was theft from their hot wallet.

Upbit is one of the greatest cryptocurrency exchange in South Korea and was the main household stage to make a benefit in 2018. It was moved on October 24, 2017, with the help of their relationship with American computerized cash exchange Bittrex.

Read More: TheCoinRepublic

[vanjava]

I was quite surprised to see news of news like this, given the fantastic value that was seized by hackers. I'm worried about the dump that can be done by the hacker, even though it is currently a green market.

[Delgboke]

I think that most cryptocurrency exchanges should think outside the box on how to overcome the situations at hand concerning the security challenges facing them on how to tackle the security of it's exchanges in other to make sure people investment are secure.

[shadowdio]

I don't know why their security is so easy to break, they should upgrade their security because this is all about money. Are they really hacked by the hackers? or this is inside job?.

[masterrex]

That's another bad news for the industry in these previous weeks, another Exchange was hacked and that was Upbit, I realized how many crypto exchange was still vulnerable of hacking, if we see and compare the previous incident mostly south korean base exchange was mostly become a victim. in other words south korean exchange are the soft target of the hackers, for whatever reasons i believe that it was also part of negligence in the crypto exchange side regarding security matters.

[Prime]

This has already happened many times. Before the case of this Upbit, Binance also ever experienced more than one time. Hackers seem to always know how to rob people asset's from trusted or top exchanges. This is a warning for us that never think to keep our assets on exchanges for a long time.

[Fenix]

This is another evidence that the use of cryptocurrency is still very imperfect, it is still very vulnerable to its functioning. Due to the still very small liquidity of the cryptocurrency, we can not do without the use of exchanges, therefore they are increasingly subjected to hacker attacks. In the world of digital technology, almost any innovation can be hacked using another technology, and this confrontation seems to be eternal.