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Home Markets Cryptos
Ethereum, second most valuable cryptocurrency, surges more than 88% since March

Ethereum robber transfers $1.5 million worth of Crypto

Olumide Adesina by Olumide Adesina
3 years ago
in Cryptos, Spotlight
Share on FacebookShare on TwitterShare on Linkedin

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

âš  4,000 #ETH (1,469,285 USD) of stolen funds transferred from Kucoin Hack 2020 to unknown wallet

Tx: https://t.co/cqjdEySR6n

— 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.

READ: Jumia sees competition from startups in growing African e-commerce market

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.

READ: Thrive Agric drama: We only insure the farms, not funds of individual investors – Leadway Assurance

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.

Explore Data on the Nairametrics Research Website

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Tags: crypto exchangeCryptocurrencyCryptocurrency NewsEthereumKucoinWhale alert
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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