Connect with us
Active Currencies 13978
Market Cap $2,463,374,859,043.10
Bitcoin Share 51.62%
24h Market Cap Change $1.69

Over 800 Bitcoin from Kucoin hack moved

1min Read

Share this article

It seems the hacked funds from cryptocurrency exchange KuCoin will continue to grab attention, as the culprits involved have been trying to move the stolen crypto again. The crypto and blockchain tracking service Whale Alert published a tweet today indicating that 807 BTC (worth about $10,840,727 at the time of the transfer) of stolen funds were moved to an entirely new unknown wallet, on Tuesday, 27 October at 13:01 UTC.

The address associated with the wallet in question was said to be: 1Rn29Gry2gboRXqLctEWgaA3J3qpgLM9D

However, the origin of the stolen funds amounting to 807 BTC was traced to multiple addresses associated with the Kucoin hack 2020, some of which are: 

1TYyommJW3uhjhcnHhUSuTQFqSBAxBDPV

1NRsEQRg5EjmJHbPUX7YADVPcPzCQBkyU7

Back in September Whale Alerts had revealed that some of the stolen funds from the Kucoin hack, including over a million XRP, had moved in batches into crypto exchanges such as Huobi, Binance, and BYEX. 

With regard to the current BTC movement, since the funds had ended up in a wallet and not at an exchange, the transfer may not indicate that the hackers were attempting to sell the stolen funds at all. In fact, it is typical for hackers to move stolen funds in such increments without the intention to sell. 

At the time of writing, BTC price was up 5.5% in the last 24 hours and was worth approximately $13,667.76 today. 

After suffering a major hack in late September, Kucoin, the eight largest exchange by trading volume, had published an update that stated that the exchange was allowing deposits and withdrawals for BTC, ETH, and USDT stablecoin after upgrading wallet security for the aforementioned cryptocurrencies. This update followed the Seychelles based exchange’s earlier decision to freeze all wallets and disable services, after $281 million in various crypto was stolen as a result of the hack.   

Share

Alisha is a full-time journalist at AMBCrypto. Her interests lie in blockchain technology, crypto-crimes, and market developments in Africa and the United States
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.