DAPS (DAPS) Detects Movement of Funds Stolen from Cryptopia
DAPS was one of the assets affected by the recent Cryptopia hack, warning that the purchase of tokens at a lower price creates the risk of having the wallet frozen.
DAPS (DAPS) has noticed movement in the hacker’s wallet holding DAPS tokens taken out of the Cryptopia exchange. The project team has issued a warning to traders and platforms, highlighting the risk of buying stolen tokens.
DAPS was among many ERC-20 tokens extracted from Cryptopia’s wallet, with the hacker transferring about 5.09 million DAPS to a new intermediary address. The tokens most recently moved are worth around $36,000, while the hacker’s wallet contained about $360,000 worth of DAPS.
The DAPS market price has remained relatively unaffected by the hack, clinging to a depressed $0.000071. The asset was created after a disastrous token swap attempt for PeepCoin, which was canceled at the last moment and wiped out the value of PCN. Since then, DAPS had been slowly rebuilding its reputation before getting hit by the Cryptopia hack.
The hacker’s wallet managed to withdraw $16 million worth of coins and tokens after stealing private keys from Cryptopia. An analysis by Elementus has revealed which tokens were the most affected.
“The funds were taken from more than 76k different wallets, none of which were smart contracts. The thieves must have gained access to not one private key, but thousands of them,” Elementus said in a recent blog post.
DAPS was among the hardest-hit tokens although other projects had a larger presence on Cryptopia and greater losses as a result of their exposure. It is still uncertain whether Cryptopia kept other private keys vulnerable to a hack and whether other wallets were affected.
What is more worrying about the Cryptopia breach is that the hackers not only managed to empty the wallets but they also control the private keys, according to Elementus. Another 2,000 wallets holding about $46,000 worth of Ethereum (ETH) remain vulnerable to malicious activity. Elementus concludes the hacker wiped out the private keys, and Cryptopia may not have copies to regain control of the wallets.