Cryptopia hacker who pulled off a $16M heist still going
January 30, 2019, 5:05AM EST
1 min read
Cryptopia has still not located its security gap, as the hacker who stole $16 million in ethereum earlier this month has since taken another 1,675 ETH (worth about $180,000) from 17,000 Cryptopia wallets, blockchain analysis firm Elementus reports.
Some of the wallets had been previously identified as at-risk or had already been emptied in the original hack. The owners, however, have continued sending funds to them - even after the second breach. The funds most likely came from mining pools.
While initially it was believed Cryptopia might have made the necessary moves to secure the platform, the stolen funds have since been moved to one of the wallets used in the first hack. It is suggested that the hacker—not the exchange—still possesses the control of Cryptopia’s ethereum wallets, and the breaches may continue in the future.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.