Following Hack Of Bithumb, ChangeNOW, Exchange Brings Back Nearly $500,000 In EOS
Following Hack Of Bithumb, ChangeNOW Exchange Brings Back Nearly $500k In EOS
Bithumb had a rather eventful weekend as a hack took over the exchange, transferring out millions of dollars’ worth of EOS and XRP. When Dovey Wan (Primitive Ventures) revealed these transactions of Twitter, it was also discovered that the crypto assets were going to the wallets of competing for crypto exchanges. While there are many exchanges involved, the first one to take a stand and offer a helping hand in the matter is ChangeNOW.
In an announcement today, the ChangeNOW platform boasted that they were able to stop “a solid number of EOS and XRP exchanges” that the hackers were attempting to process. They credited the “fast and coordinated actions” of the team as the way that they managed to stop the transactions. They added that the total amount that they have retained now is nearing the $500,000 mark. The full blog on this announcement can be viewed at https://changenow.io/blog/changenows-comment-on-bithumb-hacking-incident.
The company also announced their progress on Twitter, adding that they are presently working with law enforcement to return the funds to Bithumb.
In ChangeNOW’s comments, they added that any of the stolen exchange deposits have already been frozen, and they have stored the funds in a cold wallet. This storage was under the advisement of the law enforcement officials that they have been in contact with. Since being notified by Bithumb, ChangeNOW has gone as far to blacklist the addresses involved and have stopped EOS and XRP deposits for now.
Presently, the main goal of ChangeNOW is to work cooperatively with the South Korean police, along with the Bithumb representatives. Furthermore, the exchange has explicitly stated that their “main goal” is to get these funds back to the “rightful owners.”
So far, it has been revealed that the stolen EOS has gone to multiple exchanges. In addition to ChangeNOW, the funds have also been moved to EXMO, Huobi, KuCoin, and CoinSwitch. Changelly has followed the path of ChangeNOW, already having put $76,000 in XRP and $480,000 in EOS on hold since the attack.
As it stands, Bithumb is encouraging users to abstain from any new cryptocurrency deposits. The company is working to “check our member’s assets,” offering a link on their tweet to learn more details. However, the company has maintained a stance that this hack was performed by internal players, and that customer funds have, so far, not been involved.
Along with comments from Changelly and ChangeNOW, Binance’s CEO Changpeng Zhao commented that there have not been any of the stolen funds sent to his exchange yet. In a self-promoting boast, he added that these hackers “don’t want to deal with our big-data risk management system,” deterring them from Binance.