A crypto thief who recently stole 342,000 Ethereum (ETH) from the South Korean cryptocurrency exchange Upbit is moving the funds around at a rapid rate.
In the last 24 hours, whale watchers have spotted eight separate transactions shuffling around various amounts of the stolen crypto.
According to Whale Alert, some of the ETH was sent to the decentralized exchange Tokenlon, where it was traded for VEOS, a token pegged to EOS.
Here’s a look at all of the movements in the last day, which are likely part of a broader attempt to sell the assets for cash.
Meanwhile, some of the biggest Bitcoin holders on the ledger are moving around large quantities of BTC.
In total, 6,916 BTC worth $49.8 million has moved across the ledger in seven sizable transactions. Four of the transfers in the last 24 hours involved cryptocurrency moving from unknown wallets to crypto exchanges, where it could potentially be sold for cash or other crypto assets.
On Friday, in a separate incident that’s being called an “inside job”, VeChain Foundation reported that 1.1 billion VET tokens were being tracked after an alleged security breach by a member of the company’s finance team.