The KuCoin hacker has begun moving millions in XRP and ERC-20 tokens to cash out. According to a report by Crytoglobe, the hackers stole over $200 million from the exchange.
According to Ethereum blockchain data, the hacker initially moved a small part of the stolen tokens to Uniswap. Thereafter, the hacker moved digital assets worth $1.1 million. As stated in the Cryptoglobe report, the hacker may be looking to cash out the transferred funds.
Whale Alert revealed that the hacker moved XRP to several addresses. According to the Whale Alert, the hacker moved 37.35 million XRP, worth more than $9 million.
In addition, the hacker moved some of the stolen assets to several small crypto projects. To stop the hacker from laundering, some of these crypto projects, like Ocean Protocol, have frozen the funds. Also, some of the projects have invalidated the stolen funds.
On the 27th of September, Ocean Protocol posted a tweet to address the hack:
“On Sep 25/26, over $150M worth of tokens were stolen from KuCoin exchange, and as part of the theft, over 21M Ocean, worth over $8.6M, were taken. Since yesterday, we have been working to find a solution and ongoingly consulting with KuCoin.”
Furthermore, Whale Alert added that 69,122 XRP worth $16,820 of stolen funds was transferred to BYEX.
Also, Cryptoglobe revealed that the KuCoin hacker moved a part of the funds to HotBit.
Image Credits: Pixabay
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