<span style="font-weight: 400">One of the Crypto addresses involved in the Last week theft from South Korea Cryptocurrency exchange Upbit, is moving millions of dollars of the stolen Ethereum to a unanimous wallet. A Whale alert from the Whale Alert Service ( A platform dedicated to tracking major blockchain transactions) flagged a 10, 000 Ether transaction between 7:52 am to 7:55 am (UTC). The amount is equivalent to a whopping $1.5 million. </span>

<span style="font-weight: 400">Meanwhile, the transaction was priorly preceded by a tiny transfer of approximately $150, 000 (1,001 ETH);  five minutes before the whale, and from the same address. During press time, the transaction is still ongoing and has already initiated another 10,000 ETH <a href="https://www.cryptoknowmics.com/crypto/the-exceptional-growth-of-the-blockchain-devices-market/">transfer</a> confirmation.  In fact, Whale Alert has confirmed a total amount of six transactions till now. </span>
<h2><b>Stolen Funds won't Transact on Leading Exchanges</b></h2>
<span style="font-weight: 400">Upbit, a South Korean crypto exchange run by a subsidiary of the Korean technology giant firm Kakao revealed last week that it had lost 342,000 Ether; through an alleged theft on its hot wallet occurring on November 27. Furthermore, the firm noted that the theft occurred while the exchange was moving assets between its hot and cold storage facilities. An incident which has worried most crypto followers that the act could have been an inside job by Upbit employees, rather than an external hack. </span>

<span style="font-weight: 400">Nevertheless, major crypto exchanges, including Binance through its CEO Changpeng Zhao. The exchanges pledged to ensure that the stolen funds would not be able to transact via their platforms. Meanwhile, the whale transfers have been red-flagged as funds from the Upbit </span><a href="https://www.hackerone.com/start-hacking"><span style="font-weight: 400">Hack</span></a><span style="font-weight: 400">; which ether-scan  analysts have already confirmed as direct wallet to wallet transfer. </span>
<h2><b>Upbit Confirms to Refund </b></h2>
<span style="font-weight: 400">Nonetheless, Upbit also pledged to refund all the lost Ether from their reserve of corporate funds. It is worth noting that the crypto exchange is among the four leading exchange platforms in South Korea-; besides Coinone, Bithumb and Korbit. In fact, Upbit was the only Domestic South Korean cryptocurrency exchange to have made profits in 2018. </span>

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Stolen Upbit  ETH Is on the Move to Some Unknown Wallets

Wallet alleged with theft from South Korea Cryptocurrency exchange Upbit, is moving millions of dollars of the stolen Ethereum to a unanimous wallet.

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Stolen Upbit ETH Is on the Move to Some Unknown Wallets

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