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Crypto exchange Upbit confirms theft of $49 million in ether

Crypto exchange Upbit confirms theft of $49 million in ether

Crypto exchange Upbit has showed that 342,000 ETH, value round $49 million, used to be stolen from the exchange previous as of late and transferred to a unmarried pockets. Upbit has suspended deposits and withdrawals and plans to hide the losses with budget from its steadiness sheet.

Why it issues:
At ~$49 million the theft is the biggest of the 12 months. Binance misplaced ~$40 million of BTC previous this 12 months when an attacker exploited the exchange’s scorching pockets.
Crypto exchanges are liable to assaults from out of doors resources in addition to staff that experience get admission to to wallets. Already, there’s hypothesis that the Upbit theft used to be done by way of an insider.

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