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Cryptopia hacker transfers over $4 million worth of stolen Ethereum [ETH] to unknown wallet

Priya

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Cryptopia hacker transfers over $4 million worth of stolen Ethereum [ETH] to unknown wallet
Source: Unsplash


Cryptopia, the New Zealand-based cryptocurrency exchange, was in the news earlier this year after it was hacked in January, resulting in many customers losing their cryptocurrency funds. Now, new reports have emerged elucidating an update on the hacker’s activity, with regard to the stolen funds.

WhaleAlert, a Twitter account that tracks transactions involving large sums, posted an alert on the stolen cryptocurrency recently. The alert stated that over $4 million worth of Ethereum tokens were transferred to a different address. The Tweet read,

“30,789 #ETH (4,288,847 USD) transferred from Cryptopia Hack to Unknown wallet”

Source: Whale Alert

Source: Whale Alert

Notably, some of the funds were stolen from the exchange in the second hack. A part of the fund was reportedly transferred from the first address used by the hacker, to the other address, Cryptopia hack2. The second hack witnessed over 17K wallets being affected by the security breach, suggested a report by Elementus. Further, the report also stated that the exchange lost all control of its Ethereum wallet private keys.

Source: Etherscan

Source: Etherscan

Additionally, prior to transferring the 30,789 ETH to another wallet, the hacker made a transaction of 1 ether to a completely different address, making a total of two transactions this week.

Source: Etherscan

Source: Etherscan

The 1 ETH was later transferred to the same addresses. The wallet address was noted to be 0x3fbAa73A433DAa0F6c43D1c732c3F97A86F3a427.

Source: Etherscan

Source: Etherscan

Recently, the exchange released a statement asserting that the platform would not be liable for funds that were lost after the announcement of the initial hack. This meant that all customers who deposited crypto into their Cryptopia accounts 24 hours after the breach was announced, would not be getting a refund. The exchange stated,

“This means that if you sent funds after 16/01/2019 12:00 AM NZT we will not be recovering those funds for you.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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