Hacker started to eliminate tokens stolen from KuCoin

The hacker who stole about $200 million in various cryptocurrencies and tokens from the KuCoin exchange is gradually exchangingassets at its disposal on Ethereum with decentralized services.

According to the analytical resource Whale Alert, today at 11:53 Moscow time 50,000 LINK ($530,000) was sent from his wallet to an unknown address.

⚠ 50,000 #LINK (529.962 USD) of stolen funds transferred from Kucoin Hack 2020 to unknown wallet

Tx: https://t.co/dyKD3yfrKu

— Whale Alert (@whale_alert) September 28, 2020

In total, several such transfers were recorded. OKLink analysts claim that he decided to use the Kyber Network decentralized exchange to exchange LINK for Ethereum.

Hacker going for $ LINK next by the looks of it. Only got ~ $ 2m of it.

This guy is the most meticulous dumper I've ever seen. Test transactions, TWAPing, etc.

36hrs, 15m of 150m liquidated. You can do this haxor. pic.twitter.com/aakJL57Y9N

— Hsaka (@HsakaTrades) September 28, 2020

"This guy is the most meticulous dumper of all,what I've ever seen. It sends a test transaction, uses time-weighted average sales, and so on. Time to watch him sell LINK over the next 12 hours,” writes an analyst under the name Hsaka.

The hacker has about $ 2 million inLINK, which is significantly less than some of the other assets he stole. Not long before that, he conducted similar transactions with SNX tokens worth $ 6.7 million and OCEAN. To exchange them, he used the Uniswap decentralized exchange.

Against this background, crypto projects began to acceptactive measures to prevent a hacker from selling their tokens. Orion Protocol updated the smart contract to withdraw $ 8.5 million tokens from circulation, Covesting froze $ 520,000, and KardiaChain canceled $ 9 million tokens.

Velo Labs has announced that it will cancel VELO 122 million. VIDT Datalink will freeze 14 million VIDTs, and SilentNotary will reissue the stolen tokens. Ocean Protocol ended their contract and hard forked to mitigate the attack.

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