HomeTodays NewsCryptopia: Stolen Ethereum [ETH] funds continues to move; a portion sent to EtherDelta
Cryptopia: Stolen Ethereum [ETH] funds continues to move; a portion sent to EtherDelta
May 22, 2019
The hacker who stole a mammoth amount of cryptocurrency funds from Cryptopia, a New Zealand cryptocurrency exchange, continues to move to stolen funds in the market. Unlike the previous attempts, this time around the attacker transferred the funds to a decentralized exchange, EtherDelta.
Notably, this is not the first time for a hacker to opt for decentralized platforms instead of a centralized one. Another hack that reportedly took place in Marck 2019 also saw a similar pattern; the attacker who had stolen around $105 million worth of Ethereum and other cryptocurrencies from Coinbene had transferred a portion of the coins to EtherDelta.
According to Whale Alert, at press time, a total of sixtransactionsweremadetoEtherDelta, approx. 3000 Ether, which was worth $758,509. To add on, a total of 1000 ETH, worth around $251,264 was transferred to another address that was used to hack the exchange. This was followed by another Twitter user, Crypto Shork, ponting out that the hacker made two transactions on EtherDelta.
Notably, a Reddit user, FlashyQpt remarked that this was “an unnecessary amount of effort for very little gain”, considering that it was “very easy” to track these transfers. The Redditor stated, “It’s not unusual to see insane trades happen because the EtherDelta/ForkDelta platform lacks any sort of order matching. ” The user added that hacker was trying to “unmark” the stolen Ethereum coins.
“It’s dumb but a lot safer than using those dogy tumbler services. And I think the hacker is betting on the fact that courts and law enforcement are largely still completely clueless regarding cryptocurrency and might actually fall for it. Also they might do other things, maybe that’s only the first step.”