RATE Group | Upbit Crypto Exchange Hacked Losing Cryptocurrency Worth $48.5 Million
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Upbit Crypto Exchange Hacked Losing Cryptocurrency Worth $48.5 Million

01 Dec Upbit Crypto Exchange Hacked Losing Cryptocurrency Worth $48.5 Million

Posted at 20:53h in Cryptocurrency News by

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Here’s another report on a Cryptocurrency exchange losing money after being hacked. This time, the incident involves the South Korean crypto exchange Upbit. Consequently, the exchange lost digital assets worth $48.5 million to hackers.

Upbit Crypto Exchange Hacked

Reportedly, the South Korean cryptocurrency exchange suffered a cyber attack losing cryptocurrency worth millions of dollars. The latest victim appears to be the Upbit crypto exchange, which the attackers hacked to steal $48.5 million.

The incident surfaced online following a disclosure from Lee Seok-woo, CEO of the exchange’s parent firm Doo-myeon. As stated in their notice, the exchange suffered a cyber attack on November 27, 2019. The attack involved transactions of 342,000 Ethereum from the exchange’s wallet to an unknown address.

At approximately 13:06 on November 27th, 2019 (KST), 342,000 ETH was sent from Upbit’s Ethereum hot wallet to an anonymous wallet…

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