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South Korean Crypto Exchange Upbit confirmed around 08:56 UTC on Wednesday (November 27) that it has had 342,000 ETH stolen from its hot wallet.
In a notice posted on its website, Upbit explained that at 16:06 UTC (13:06 Korean time) on November 27, 342,000 ETH (worth approximately $49 million) was transferred from its hot Ether wallet to "an unknown wallet". The address of this wallet is 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029.
As soon as Upbit realized this, it says that it started responding:
- All crypto in its hot wallets have been moved to cold wallets.
- Deposits and withdrawals were suspended and they will not be resumed for "at least two weeks".
Upbit says that it will cover this loss out of its own own funds.
We will update this article as more information becomes available...
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