Hackers move $ 1.2 million to Ethereum from Upbit crypto exchange

Last November, hackers managed to steal 92 billion KRW in Ethereum from the South Korean crypto exchange Upbit – just over 300,000 ETH against the exchange rate then. That’s about $ 78 million.

The large amount of cryptocurrency was downloaded into a different wallet without any message. The hack is thought to be an inside job.

The Exchange partnered with local legislatures and other crypto exchanges, asking them to help find the money. Changpen Zhao, Binance’s chief executive, said it would freeze cryptocurrency stolen by Upbit if it were sent to Binance.

Later, hackers began to gradually move the stolen Ethereum,after splitting it into smaller sections.

Today, May 6, the bot Whale Alert announced that another 5,798 have moved to Ethereum.

2019 was filled with many other similar hacks in the crypto space. The year began with IT criminals attacking New Zealand-based Cryptopia, which later had to go into liquidation.