The present bullish trend in the ever-changing financial asset has definitely brought in some bad players whose motive primarily is to rob crypto traders, investors, and larger entities of their hard-earned assets.
READ: Over 1,000,000 stolen XRP transferred from Kucoin to major crypto exchanges
Just a few hours ago an advanced crypto tracker, Whale Alert revealed an Ethereum robber transferred about 1.5 million dollar worth of Ethereum from Kucoin Exchange to another wallet.
READ: Tether mints over a billion dollars worth of USDT
⚠ 4,000 #ETH (1,469,285 USD) of stolen funds transferred from Kucoin Hack 2020 to unknown wallet
— Whale Alert (@whale_alert) October 17, 2020
READ: How to buy and sell Bitcoins in Nigeria
Back story: Some weeks ago, Nairametrics reported KuCoin Global CEO, Johnny Lyu commented on a reported hack after private keys linked to crypto wallets got exposed and might have affected over $150 million in user funds.
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He said that the findings of the internal security audit report, revealed part of Bitcoin, ERC-20, and other tokens in KuCoin’s hot wallets were transferred out of the crypto exchange, which contained few parts of the total assets holdings.
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That said, the education against crypto fraud seems to be bearing fruit in Africa as a report retrieved from Chainalysis, Blockchain forensics, discovered that crypto players in Africa are less likely to fall victim to scam addresses than crypto traders located in other geopolitical zones.
READ: Crypto robber behind over $200 million theft, found
How to protect your cryptos
Using cold wallets or a proprietary smartphone is recommended. These are specifically designed tools to keep your crypto from falling into the hands of hackers on the internet.
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