The never-ending saga of Cryptopia, the New Zealand based hacked cryptocurrency exchange, seems to be doing more harm than ever. Cryptopia entered its liquidation process (in January this year), and within a week, over 55,000 ETH (almost 60k ETH) funds were stolen and transferred to unknown wallets.
Today (20 May 2019) at 06:05 UTC a transfer worth $2 million (10,770 ETH) was done from Cryptopia Hack to an unknown wallet; Whale Alert, a tracker of crypto-related transactions reported over Twitter.
⚠ ⚠ ⚠ 10,769.729044941925 #ETH (2,674,562 USD) of stolen funds transferred from Cryptopia Hack to unknown wallet
— Whale Alert (@whale_alert) May 20, 2019
According to the report by Whale Alert, the Cryptopia Hack account emptied and dumped all the funds into the unknown wallet. Meanwhile, the receiving wallet now has a balance of 30,765.719044941925973233 Ether with an Ether value of $7,547,138.54 at the time of press.
Based on the transaction details portrayed by WhaleAlert, the address which transferred the funds d96ba527be241c2c31fd66cbb0a9430702906a2a was titled “Cryptopia Hack” and the receiving address being d4e79226f1e5a7a28abb58f4704e53cd364e8d11 tagged “unknown”. Subsequently, the transaction had this hashrate: wa09f1b4f96f1e394ab4634cac768c097c1c4123c39a334dd959e56bd60266c575. However, the whole transaction scenario hasn’t been verified by Cryptopia at the press time.
Another significant funds move occurred today at 01:43:57 UTC and it involved 30,790 ETH, valued at $7.74 million at the time of writing. Whale Alert tweeted:
30,790 #ETH (7,740,465 USD) transferred from Cryptopia Hack to unknown wallet
— Whale Alert (@whale_alert) May 20, 2019
So, the hackers have moved almost $10 million in two transactions out of the hacked Cryptopia ETH funds so far. It is likely that the hacker(s) is moving cash into different “unknown” wallets, including two Huobi accounts, according to the analysis by CoinFirm. Kystiana Duda, a crypto-analyst at CoinFirm stated,
“The Cryptopia hacker moved 30,790 ETH (~$7.67M) from the last read address to the yellow one which is a new address of the hacker as of May 20, 2019, at 01:43:57 AM +UTC. The yellow address still has got 29,770 ETH.”
About two crypto-addresses – this and this one – both received 1010 ETH funds, and another amount (10 ETH) was deposited to Huobi address and then got transferred again to a Huobi hot wallet
It should be noted that on the 15th of May, 2019, Cryptopia emphasized that customers should stop making deposits on the platform.
“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. …Given the complexities involved, we expect the investigation to take months rather than weeks”
Cryptopia also added (in all caps):
“PLEASE DO NOT SEND ANY DEPOSITS TO CRYPTOPIA.”
A few days back after many customers complained of the sudden maintenance routine without any prior notice, Cryptopia stated that it would be undergoing a liquidation phase, performed by Grant Thornton. The operators of the site announced that the period could take months.
Cryptopia is a notable platform, but its setback all began at the beginning of this year (Jan. 2019) when the platform experienced a massive hack. The hack was the first one, and it involved tokens worth $16 million in ETH. Weeks passed, and another hack surfaced, and this time only about $180,000 in Ether was lost. The platform suffered massively due to significant losses. Still, the exchange later resumed its activities in March.
Right after resuming its activities in March, some ETH funds (30,789 ETH) at that moment were transacted from a Cryptopia Hack account with this address: 923cd02364bb8a4c3d6f894178d2e12231655c, to an unknown account crypto wallet address: 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427.
Consequently, it is evident that the hackers are in a hurry to move (and perhaps dump) the stolen funds as quickly as they can.
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