Back to the list

Binance hackers are moving their stolen Bitcoins around


www.chepicap.com 09 May 2019 15:00, UTC
Reading time: ~2 m

According to a team of researchers at the blockchain services company Coinfirm, the Binance hackers have been moving around their stolen Bitcoins, in an attempt to erase their tracks.

The blockchain services company Coinfirm, took to Twitter to reveal that they have been watching the ever-changing movements of the thousands of Bitcoin, which were stolen in the latest Binance hack.

According to their first tweet, around 4:11 am on May 8 the hacker(s) started moving the first load of Bitcoin to new addresses.

Coinfirm's analysis shows that the Binance hacker(s) first moved over 1214 Bitcoin, followed by another move of at least 1327 BTC's.

According to @Coinfirm_io analysis the @Binance hacker has recently moved over 1214 #BTC (~$7.16M) to new addresses

But almost 5786 BTC (~$34.14M) still sit on the #Binance hackers original addresses
More exclusive insights coming!https://t.co/CdRIXAT8dC pic.twitter.com/YUVrHeVOhn

— Coinfirm (@Coinfirm_io) May 8, 2019

The #Binance hacker just moved the funds again!

Coinfirm analysis shows 1227 #BTC of the #BinanceHack funds moved to 2 new addresses held by the hacker(Red bubbles)

One holds 707 BTC the other 520 BTC

Below is also a Coinfirm #aml Risk Report of one https://t.co/CdRIXAT8dC pic.twitter.com/c2VZwtfub6

— Coinfirm (@Coinfirm_io) May 8, 2019

The Binance hack, which took the crypto community by surprise, as these major hacks tend to do,  took place at 5: 15:24 PM on May 7 when these hackers managed to steal over 7,000 Bitcoin from Binance into a number of smaller wallets in one single transaction.

The hackers apparently continue to move smaller amounts into smaller wallets.

Journalist and blockchain analyst Amy Castor, explained that breaking the transactions up into smaller and smaller amounts, makes it more and more difficult to track.

This is 'Money laundering 101', she tweeted.

Money laundering 101: breaking the transactions up into smaller and smaller amounts making them more and more difficult to track. https://t.co/4uEzI8PcBg

— Amy Castor (@ahcastor) May 8, 2019

Is Fidelity behind this latest Bitcoin push to $6K? Subscribe to the Chepicap YouTube Channel for more videos!

Back to the list