South Korean cryptocurrency exchange Upbit reported hacking. Unknown attackers stole 342,000 Ethereum from the exchange’s hot wallet, that is, approximately $ 48.5 million at the rate at the time of the attack. Funds were withdrawn to an unknown until that moment purse.
Starting November 27, 2019, Upbit temporarily suspended its work, banning deposit and withdrawal of funds, and all assets of the exchange have so far been transferred to cold wallets. According to the official statement of the developers, the work of the resource should resume approximately in two weeks. Also, representatives of the exchange promised that they would compensate users for all the damage in full, although how it will be done has not yet been reported.
On Reddit and on social networks, the hacking message has already been called into question, as users believe that in fact this could be an exit scam attempt or insider operation. In particular, suspicion is caused by the fact that the theft occurred when Upbit was engaged in the planned movement of funds.
The "hacker" timed when UPbit was making crypto transfers to its cold wallet (other alts like TRON, etc.)
Hence, I think the probability of it being an inside job is higher than external breach.
No details are certain for now. Will continue to update.https://t.co/Yv01WYvPok
– Joseph Young (@iamjosephyoung) November 27, 2019