The cryptocurrencies stock exchange located in South Korea Upbit has already lost the cryptocurrencies worth forty-nine dollars. The company has already officially confirmed the theft.

President Upbit reported at 9:00 UTC in a post on the company’s blog that the suspicious activity of hackers had just caused the outflow of 342 000 EHTs (ethers) directly from the stock exchange wallets.

Upbit – what is the status after the theft?

However, the stock exchange reassures its clients and also claims that the loss will be covered by its own assets. Meanwhile, withdrawals and deposits have been completely suspended. It is said to be a temporary element of security. The company also estimated that its platform would return to full operation in at least two weeks.

Attack

According to a site called the Whale Alert, which such a larger transaction tracking, tokens lost ether are already worth a total of forty-nine million dollars when writing these very words. They were sent directly from the Upbit wallet to an address unknown in the ETH network at 4:00 UTC exactly on Wednesday.

Just thirty minutes later, Upbit announced that it was temporarily suspending withdrawals and also deposits for the sake of server maintenance.

In fact, today with Upbit many other cryptocurrencies worth over a hundred million dollars were paid out. However, the exchange itself has reported that all transactions other than the outflow of abnormal ethereal, concerning the transfer of cryptocurrencies from hot wallets to cold wallets to cold wallets to prevent further losses.

Starting basically from around 5:00 UTC time, exactly ten transactions, each worth exactly $1.51 million in TRX (Tron) and an additional $3.5 million in BTT (BitTorrent), were then sent to completely unknown blockchain addresses. These data come from the Whale Alert report.

In the next step such transactions were worth $8.7 million in XLM, i.e. in Lumen Stellar. What’s more, $1.08 in OMG (OmiseGO), $22 million in EOS and $3.4 million in SNT.

Upbit was initially launched as a partnership between BIttrex and the South Korean application producer Dunamu, which is supported by the market giant Cocoa Instant Messenger.

Stock market collapses

The Upbit is said to be able to cover the losses of the customers. However, not all investors in the market had the same luck. In 2013, BTC fans, for example, had a really big problem with their funds on Mt. Gox. Some of them only recovered their funds after a few years of court battle, which took place after the collapse of the platform. Some of them recovered their funds only after a few years of court battle, which took place after the fall of the platform.

As you can see, the fall of the stock exchange can affect any platform. As you can see on the attached picture, sometimes it can be surprising, and sometimes we felt that something was wrong. Certainly a good intuition in investing in cryptocurrencies is useful.

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