Binance Hackers Undertake Crypto Mixing To Avoid Getting Caught

By Sumedha Bose

As most people know, a major hack rattled Binance, one of the biggest crypto exchanges in the world, just last month. The exchange lost 7000 BTC in the major financial breach that took place.

A new report by Coinfirm has revealed that the Bitcoin that was stolen by the hackers has been sent into various wallets. This is a classic case of crypto mixing which we often witness after any major crypto related crime.The hackers have been purposefully moving the Bitcoin around since the hack occurred, so as to avoid getting caught.

The report by Coinfirm claims that they have found evidence that the hackers may harbour intentions of converting the stolen BTC into other cryptocurrencies.

Coinfirm’s Grant Blaisdell says,

“Analysis of one of the mainchains used by the hacker in layering stolen funds shows that they were able to liquidate at least 1.8087 BTC (21,000 USD) on the following exchanges”

The transfers are as follows:

Bitfinex: 0,7934 BTC

Binance: 0,4294 BTC

Bitmex: 0,0022 BTC

KuCoin: 0,0713 BTC

Kuna: 0,2482 BTC

Bitmarket: 0,2560 BTC

Crypterra: 0,0072 BTC

Bitcoin.de: 0,0007 BTC

WazirX: 0,0003 BTC

Approximately $8 million worth of Binance’s stolen Bitcoin got moved today. It looks like the hackers have begun liquidating the BTC on various exchanges. Several other transactions are supposed to happen over the next few days.

Sumedha Bose

Sumedha uses words as her crutch to get by in life. She takes a keen interest in debating, dancing and destroying the patriarchy in her free time. She can be contacted at [email protected].

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