Wednesday, December 2, 2020
Home XRP - Top 10 KuCoin hackers move 18 million XRP to a controlled wallet

KuCoin hackers move 18 million XRP to a controlled wallet

Bahrain’s Central Bank authorizes U.K’s Fasset to test blockchain-based solutions

September 29th 2020

KuCoin hackers have moved a huge sum of XRP tokens from the exchange hack to a controlled. As reported by Whale Alert’s Twitter handle, hackers have moved $4.5 million worth of XRP from the KuCoin hack 2020 to a “hack wallet.”

As Cryptopolitan previously reported, KuCoin hackers raided the exchange’s hot wallets and stole more than $150 million worth of cryptocurrencies.

KuCoin hackers making waves

Whale Alert reported that 18.4 million XRP ($4.53 million) were moved by KuCoin hackers to an address controlled by them. Subsequently, 17 million XRP was moved to a ‘sub-wallet’ an hour later. However, it did not stop there.

Hackers continued to move funds as four batches, each of four million XRP, were detected flowing out of that sub-wallet towards four different sub-wallet addresses. Currently, the funds seem to be residing in those addresses.

Note that the XRP coins only make up a small portion of the over $150 million dollars worth of cryptocurrencies stolen by the KuCoin hackers.

KuCoin hack

KuCoin’s cryptocurrency exchange was hacked on September 26. The breach was detected by the sudden emergence of large amounts of withdrawal requests on the platform. The exchange sealed customer accounts and reported that at least $150 million worth of cryptocurrencies has been stolen.

On the other hand, cyber tracing firm Elliptic that $281 million worth of cryptocurrencies were stolen in the hack. Furthermore, these included a large sum of Bitcoin, Stellar, Tron, and Ethereum tokens with Ethereum tokens dominating the list.

Elliptic reported that the KuCoin hackers made off with $150 million of Tether, Chainlink, and other Ethereum-based tokens. While hackers have failed to launder the funds through centralized exchanges, Elliptic expects that laundering will likely continue on decentralized exchanges(DEX).

Source link

XRP vi.be Editor

XRP vi.be Editor

Editor at XRPvi.be, gathering information and insights about Ripple, XRP and related things from around the internet. Opinions deriving from any content do not represent ours. All content copyrights are with the original creators and holders. By clicking on the ‘source’ link you can visit the originating place of the content.

Popular Articles

Active Bitcoin Addresses Hit Third-Highest Level in November

Bitcoin (BTC) bulls have been continuously trying reach the $20,000 price, falling just shy of what would have been a new ATH price by...

Bitcoin Rebounds as UK Authorizes Pfizer-BioNTech’s Vaccine

Bitcoin inched back into positive territory on Wednesday just as Pfizer and BioNTech’s coronavirus vaccine won UK authorization. The country’s Medicines and Healthcare Products Regulatory...

Historian Niall Ferguson Says Bitcoin Is Winning the Covid-19 Monetary Revolution

Historian and senior fellow with the Hoover Institution at Stanford University, Niall Ferguson says bitcoin is winning the Covid-19 monetary revolution. Hailing the virtual...

Tron (TRX) Price Analysis: Major Uptrend Support At $0.027

Tron price started a strong decline after rallying towards the $0.0400 level against the US Dollar. TRX price is now trading below the $0.3500 level...

OKEx Announces Support for Spark (FLR) Airdrop as XRP Holders Prepare for Token Distribution

OKEx has joined other digital asset exchanges in announcing support for the upcoming Spark (FLR) token airdrop. (Read More)

How much is Square up from its Bitcoin investment?

After more than a decade since its inception in late-2008, Bitcoin has seen a massive rise from being an obscure internet currency used by...