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.
Not even the most popular exchange, Binance, is safe from these hackers. No matter if these exchanges have installed high security measures, the hackers are always coming back in a new and innovative way to counter those security measures even up to the highest level.
As of now, I honestly think that if this one continues, hackers would become whales and become one of those who can control the cryptocurrency market.
they have been whales themselves for a long time but they want to earn more coins to manipulate it. You know, every time it hacked, the market dropped slightly. This is really worrying. But one thing that makes me even more angry is that exchanges have very bad layers of security and can't make their exchanges last long and secure. now it steals less, but after it will get better and can rob more. Hopefully large exchanges now buy more cold wallets to store coins there, which will cause less harm.