<h2>Signs Give the Indication of Insider Dealing in Upbit Hack; Suggests Commentator</h2>
After the South Korean leading crypto exchange, Upbit hack of 342,000 <a href="https://ethereum.org/" target="_blank" rel="noopener">Ether (ETH)</a>, some of the commentators pointed out the hack was an insider dealing.

On Nov 27, cryptocurrency analyst, Joseph Young made a tweet:
<blockquote>“The ‘hacker’ timed when UPbit was making crypto transfers to its cold wallet (other alts like TRON, etc.). Hence, I think the probability of it being an inside job is higher than external breach.”</blockquote>
Earlier today, the incident of Upbit exchange hack was confirmed in an official outline, that read:

“At 1:06 PM on November 27, 2019, 342,000 ETH (approximately 58 billion won) were transferred from the Upbeat Ethereum Hot Wallet to an unknown wallet. Unknown wallet address is 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029.”

Exchange in its statement stressed that it deemed the $50 million worth 342,000 Eth transaction to be the only irregular transaction on the ledger, pointing to a great deal of other large-scale transactions that were connected to the exchange transferring assets amongst cold and hot wallets.

Large-scale transfers tracker, Whale Alert has unveiled, the 342,000 Eth transfer was pursued by a large number of major transactions of TRON (TRX) and BitTorrent tokens.

Eth, TRX and BTT transfers were made to an anonymous wallet and succeeding <a href="https://www.cryptoknowmics.com/crypto/litecoins-charlie-lee-accuses-stellar-of-manipulation-after-slashing-more-than-50of-supply/" target="_blank" rel="noopener">Stellar</a> (XLM), OMG and EOS transactions were conveyed to Bittrex exchange from Upbit.

Young stated that exchange employee advantaged storage transactions' timing to carry out the theft.

Upbit promised to cover its customers' assets from exchange funds. Also stated exchange will take at least a couple of weeks to continue the deposits and withdrawals.
<h3>The reaction of Markets to Exchange Theft</h3>
Crypto markets have reacted to a recent unexpected incident in a way that Bitcoin goes below $7,000 once again.

Moreover, leading exchange, Binance's CEO, <a href="https://twitter.com/search?q=work%20with%20Upbit%20and%20other%20industry%20players%20to%20ensure%20any%20hacked%20funds%20that%20may%20make%20their%20way%20to%20Binance%20are%20immediately%20frozen&amp;src=typd&amp;lang=hi" target="_blank" rel="noopener">Changpeng Zhao</a> made a tweet:
<blockquote>"work with Upbit and other industry players to ensure any hacked funds that may make their way to Binance are immediately frozen.”</blockquote>

Signs Give the Indication of Insider Dealing in Upbit Hack; Suggests Commentator

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