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❕NEWS KuCoin hacker transferred Stolen funds worth $665K to an unknown address

Josemendez

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Prior to this report , 4000 ETH or $1,469,285 was moved from the same address to another unknown wallet.

Today According to a tweet by Whale Alert, part of the funds stolen during the KuCoin Hack last month is now in circulation . The blockchain tracking platform reported that 1,814 ETH ($665,980) of the stolen funds were moved from the wallet in question.
Can it be possible that this transaction can be stopped and the money frozen ?
 

bitforex22

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well these are things that are going to happen , because of the lack of security and the hackers becoming more advanced in their approach , the companies needed to further tighten their security in this regard in my opinion to stay safe from such events to happen again
 

Josemendez

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well these are things that are going to happen , because of the lack of security and the hackers becoming more advanced in their approach , the companies needed to further tighten their security in this regard in my opinion to stay safe from such events to happen again
Yeah and I wish most cryptocurrency exchange companies could follow the footsteps of Binance that froze the account of a scamming project that wants to move the stolen money from the site
 

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Prior to this report , 4000 ETH or $1,469,285 was moved from the same address to another unknown wallet.

Today According to a tweet by Whale Alert, part of the funds stolen during the KuCoin Hack last month is now in circulation . The blockchain tracking platform reported that 1,814 ETH ($665,980) of the stolen funds were moved from the wallet in question.
Can it be possible that this transaction can be stopped and the money frozen ?
This is interesting news. I don't think this transaction can be stopped but if high authorities take action then may be they can frozen money.
 

Josemendez

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This is interesting news. I don't think this transaction can be stopped but if high authorities take action then may be they can frozen money.
Recent report from binance showed how they were able to stop a scamming company from moving the stolen funds out from their platform thus yeah it can be stopped if dictated on time
 

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I doubt there is any way to really stop those transactions without the help of the platform through which those addresses were created.
 

Josemendez

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I doubt there is any way to really stop those transactions without the help of the platform through which those addresses were created.
For instance once a stolen fund is sent to a. Exchange address , the address can froze the fund if they were able to discover about the stolen money .
 

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For instance once a stolen fund is sent to a. Exchange address , the address can froze the fund if they were able to discover about the stolen money .
Yeah! That should bea a possibility. The Kucoin incident was so unfortunate and the least I could hope for is for some if not all of those funds to be recovered
 

Josemendez

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Yeah! That should bea a possibility. The Kucoin incident was so unfortunate and the least I could hope for is for some if not all of those funds to be recovered
Same here but unfortunately this almost a month since the incidence and there is no feedback yet on the coin recovery. I think the hacker is taking his time .
 

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Same here but unfortunately this almost a month since the incidence and there is no feedback yet on the coin recovery. I think the hacker is taking his time .
You are right that he could be bidding his time. Inability to recover those funds may cause the exchange sometime to recover since it took responsibility for settling investors.
 

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You are right that he could be bidding his time. Inability to recover those funds may cause the exchange sometime to recover since it took responsibility for settling investors.
Ofcourse . This is a huge amount for them to pay off and still run their site . The hacker will be patient with the fund because he know very well that all eyes is on him
 

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well these are things that are going to happen , because of the lack of security and the hackers becoming more advanced in their approach , the companies needed to further tighten their security in this regard in my opinion to stay safe from such events to happen again
Well stated. When it comes to money prevention is better. It is not an going after the hackers it about putting preventive measure in place to curb this. Security is the watchword
 

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Prior to this report , 4000 ETH or $1,469,285 was moved from the same address to another unknown wallet.

Today According to a tweet by Whale Alert, part of the funds stolen during the KuCoin Hack last month is now in circulation . The blockchain tracking platform reported that 1,814 ETH ($665,980) of the stolen funds were moved from the wallet in question.
Can it be possible that this transaction can be stopped and the money frozen ?
Yes the hackers are easily hacks these digital currency, and the owner can't do anything about it. And it is not the first case also they do it again and again, just stoking others money and enjoying with it.
 

Josemendez

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Yes the hackers are easily hacks these digital currency, and the owner can't do anything about it. And it is not the first case also they do it again and again, just stoking others money and enjoying with it.
The owners can actually do something about it if only they can be able to put strong security measures ,at least it will minimize the rate of hacking
 
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