Tokens stolen on Livecoin were transferred to KuCoin, and CryptoQuant claims that investors withdrew $2.5 billion in ETH from exchanges in two days

Criminals moved XRP stolen on Livecoin to KuCoin platform

The fraudsters transferred XRP stolen from the Livecoin crypto exchange to the KuCoin platform. Representatives of XRP Forensics wrote about this on Twitter. They asked the KuCoin administration to freeze these transactions and contact them for more information.

Earlier it became known that 106 BTC, 361 ETH and 236 BCH were stolen. A chat has appeared on Telegram for the affected Livecoin traders from Russia, where they share information about the situation with the hacking of the crypto exchange. Some of the users have already contacted the police.

CryptoQuant claims that investors withdrew $ 2.5 billion in ETH from exchanges in two days

According to CryptoQuant, the number of Ethereum on crypto exchanges has dropped sharply over the past two days. The company reports a decrease in stock exchange balances from 11 million ETH to 8.1 million ETH. The founder of Nuggets News, Alex Saunders, does not exclude that if the trend continues in 10 days, ether will disappear altogether on trading platforms.

However, other sources do not confirm these concerns. Ethereum exchange balances have remained largely unchanged since the rise in late 2020, according to Glassnode.

“This is nonsense. Who’d really think that a sudden drop of 2M+ #ETH are actual withdrawals from an exchange? Nothing unusual has happened, exchange flows are completely within their normal range. Current balance: 16.3M ETH», the technical director of Glassnode Rafael Schulze-Kraft tweeted.