Last week, we wrote that the hacked exchange Cryptopia officially goes into liquidation – something that was published by many best cryptocurrency news sites. However, it seems like the Cryptopia hackers are tracked and appear to have begun moving the stolen Ethereum into multiple wallets.
As the reports show, the Cryptopia thieves cleared more than $16 million and started moving the stolen cryptocurrency into multiple wallets. In January, Cryptopia went offline before announcing that it had “suffered a security breach which resulted in significant losses.” Even though the company never disclosed the amount, analytics firms estimated that a hacker or a group of hackers made off with more than $16 million in Ethereum as well as other tokens.
The Cryptopia hackers apparently made the exchange shut down – as it published on May 15 in a statement which was featured in the altcoin news – posting a message regarding its liquidation which said:
“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. […] Given the complexities involved we expect the investigation to take months rather than weeks.”
As the new analysis by CoinFirm notes, the hackers are moving the cash into separate wallets including the two CoinDesk which found that were directly connected to Huobi.
“The Cryptopia hacker moved 30,790 ETH (~$7.67M) from the last red address to the yellow one which is a new address of the hacker as of May 20, 2019 at 01:43:57 AM +UTC. The yellow address still has got 29,770 ETH,” said CoinFirm’s Grant Blaisdell in a statement that went viral in the coming altcoin news.
Two other addresses were also reported by many best cryptocurrency news sites – showing that they received a combined 1010 ETH while another 10 ETH landed in what appears to be a Huobi deposit address and a Huobi hot wallet. This means that the Cryptopia hackers are preparing to pull cash out through these exchanges.
Even though there is no telling what is exactly happening to this Ether as it moves from one wallet to another, it is certain that the $16 million is not going to sit still for long.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post