Developments around the suspected Poloniex hack continue. The alleged hacker is now believed to be dispersing the stolen funds to various addresses, which can be monitored here: https://scopescan.ai/newEntityDashboard?entityId=pPHkwJ46&entityType=watchlist&network=eth
In a surprising shift, the suspected hacker has reportedly transferred 10.514M GLM tokens (equivalent to about $2.56M) to the token contract, effectively burning them. The individual is also suspected of buying TRX with USDC on the Ethereum network and USDT on the Tron network, with a total investment in TRX thus far reaching around 206.73M TRX (equivalent to about $22.8M). This substantial purchase could be a potential driver behind the recent surge in TRX's price.
Previously, it was reported that roughly $60 million worth of tokens from the Poloniex address '0xA910' were abruptly transferred to a new address '0x0A59'. Currently, funds from '0x0A59' are being moved to more addresses and are being exchanged for ETH, with 11 million USDT transferred to '0x5c2a' and 4.98 million USDC to '0x8e4a'.
Cryptocurrencies including Dogelon Mars (ELON), Shiba Inu (SHIB), and Wrapped Bitcoin (WBTC) have reportedly been sold. The situation remains fluid and more updates will be shared as they emerge.
