Upbit hackers use a new strategy to launder stolen money
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Answer Upbit hackers use a new strategy to launder stolen money
pierced Upbit . platform At the end of last November, an estimated 342 thousand Ethereum coins were stolen from them.
Since the stolen funds are marked and monitored by the platform and the security authorities, the hackers of the platform use a variety of different strategies to launder the stolen money, including the use of decentralized platforms and the transfer of stolen funds into EOS currencies.
For your information, analysts and some trading platforms closely monitor the movement of stolen funds from the Upbit platform.
Hackers try to use ETH by transferring them to multiple wallets and platforms.
Now they are using a completely new strategy.
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It was completed send A small portion of the stolen Ether is sent to Tokenlon, which is probably a decentralized platform. As a sample, the stolen Ethereum tokens are exchanged for EOS tokens, including the token called VEOS.
⚠ 2 #ETH ($289) Stolen funds transferred from Upbit Hack November 2019 to unknown wallet
ℹ️ Address notification limit increased to $1,000
TX:
– whale alert (whale_alert) December 13, 2019
If the method works, we can see hackers try to use this strategy more, and eventually get their money out.
As a reminder, the Upbit platform, after losing an estimated $49 million (342,000 Ethereum units), the platform stated that the loss would not affect users’ funds, and suspended all trading functions for at least two weeks.
The amount was transferred from the hot “Upbit” wallet.
This was the seventh trading platform hack of 2019 and points to the deep problems in the trading platform ecosystem.
Upbit is the seventh exchange platform to be hacked in 2019
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This time, hackers are trying to use the lack of oversight on decentralized exchanges to clean and launder their money.
If it works, we could see the conversion of ETH to EOS-linked tokens in bulk and move to other decentralized platforms.
Cryptocurrency news sites reacted to what happened to the “Upbit” platform, for which it is difficult to recover the stolen funds.
Relying on decentralized platforms also makes it difficult for regulators to stop diversions.
Which could open many new doors for hackers to launder their stolen money successfully.
The fear is that other hackers will be able to quickly learn from this strategy and use it in the future if it proves successful.
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