Cryptopia hackers continue to move funds to Etherdelta and Huobi
Following the recent news that Cryptopia will be liquidating their funds and closing down completely, it appears the hackers have decided it is safe to start moving funds and selling them off.
Recent moves being tracked by Twitter account @Whale_alert have shown that large amounts of funds have been moving to Ether delta exchange as well as Huobi over the past couple of days.
It appears the hackers are trying to move the funds around in an effort to lose track of their scent, as well as trying to sell off some of the assets.
Hackers started moving funds this past weekend and appear to be continuing to do so, with no less than 23 transactions being completed over the past 48 hours.
⚠ 500 #ETH (127,889 USD) of stolen funds transferred from Cryptopia Hack to #EtherDelta
Tx: https://t.co/VbLN2gQ4wK
— Whale Alert (@whale_alert) May 22, 2019
⚠ 500 #ETH (129,406 USD) of stolen funds transferred from Cryptopia Hack to #EtherDelta
Tx: https://t.co/iZ2DUpalCA
— Whale Alert (@whale_alert) May 22, 2019
⚠ 80 #ETH (20,510 USD) of stolen funds transferred from Laundered Cryptopia Hack to #Huobi
Tx: https://t.co/Z0pfSviRoX
— Whale Alert (@whale_alert) May 22, 2019
⚠ 77 #ETH (19,855 USD) of stolen funds transferred from Laundered Cryptopia Hack to #Huobi
Tx: https://t.co/vvqhsFruQL
— Whale Alert (@whale_alert) May 22, 2019
Huobi have yet to comment on the movement of the tokens, and Ether delta is unlikely to get involved in anything. Twitter user @ImBagsy also noticed that there have been some insane trades on the ELF/ETH pair on Fork Delta. More recently more trades have come off with 0.25 ELF being sold for 1943 Ethereum, with several trades like this taking place.
It appears the hackers are most likely trading the ETH to ELF with themselves in an effort to not be tracked. However, on the blockchain, that is very difficult to do.
Most of the twitter community also commented on the Ether delta trades, comparing it to the method of money laundering, where the hackers are attempting to 'wash' the money, or in this case, clear their scent as best they can by moving through multiple addresses.
Probably bc etherdelta remains one of the few "decentralized" will little incentive to block incoming txns.
They basically create a new eth wallet, perform the txn on any coin.
Then they disperse the funds to various addresses.
Essentially launder it.
— Yaz (@YazCrypto) May 21, 2019
Yeah probably bought from themselves. Now have to follow that wallet.
— Ryan Schmelzer (@RyanPSchmelzer) May 21, 2019
probably bought from themselves
— ?️CPT?️WOKE?️ (@cptshrk108) May 21, 2019
Laundry at its finest.
— Hilo₿rain (@hilobrain) May 21, 2019
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