North Korean hackers move $3.2M from Gate.io 2018 hack North Korean hackers move $3.2M from Gate.io 2018 hack
The majority of $234 million stolen in the attack was already laundered. The recent movements involved funds that were dormant for 4.5 years.
1 min read
Updated: Feb. 23, 2023 at 10:30 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
North Korean hackers stole $234.33 million from Gate.io in 2018. Earlier this week, the hackers moved 1944.72 Ethereum (ETH) of the stolen funds, worth around $3.2 million at current prices, on-chain sleuth ZachXBT pointed out. The funds had been lying dormant for over 4.5 years, he noted.
The hackers transferred Ethereum worth $3.1 million to a single address 0x27Cf…0FbdCe. The attackers conducted eight other transactions of 1.74 ETH each.
According to ZachXBT, the hackers moved a small amount of the stolen funds to MEXC exchange.
In November, ZachXBT called out Gate.io for trying to keep the April 2018 hack under wraps. In the attack, the exchange lost $10,777.94 Bitcoin (BTC), $218,790 ETH, $Z3,783 Zcash, $99,999,000 Dogecoin (DOGE), $3,043,268 XRP (XRP), $11,000 Litecoin (LTC), and $175,866 Ethereum Classic (ETC).
The majority of the stolen assets were already laundered, ZachXBT said, while the remaining funds were moved this week. The recent transfers virtually emptied the tracked hacker wallet, that now has only $0.03 worth of ETH left, according to Etherscan data.
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Monika Ghosh
In 2020, Monika immersed herself in crypto, maintaining skepticism yet firmly believing blockchain could address key issues like financial disparity and transparency. A book-lover, she's also a passionate food enthusiast.
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