11/27/2019, 11:04 AM (Source: TeleTrader)
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Around $50M stolen from UpBit in ether

UpBit operator Dunamo confirmed on Wednesday that 342,000 ether were stolen from the crypto exchange's hot wallet which amounts to around $50 million and apologized to its users for the issue.

Dunamo CEO Lee Seok-woo stated: "At 1:06 PM on November 27, 2019, 342,000 ETH (approximately 58 billion won) were transferred from the Upbeat Ethereum Hot Wallet to an unknown wallet. Unknown wallet address is 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029." UpBit will not be available for withdrawals and deposits for at least two weeks while the exchange added that it will protect user assets by its corporate assets. Additionally, UpBit already moved all of its crypto assets from its hot wallet to cold storage.

Ethereum lost 4.15% at 5:02 am ET and traded at $141.61 against the dollar. However, the cryptocurrency remained above lows of $131.74 which were seen earlier this week.

Breaking the News / VP