The hacker(s) that earlier this year managed to breach Binance’s security and steal over 7,000 bitcoin from it are reportedly trying to cash out through other popular exchanges.
According to data from blockchain analytics firm Coinfirm, the hackers have been testing the waters on various exchanges – including Kraken, Huobi, and CoinGate – to see whether their stolen funds would be frozen after being deposited.
As CryptoGlobe covered leading cryptocurrency exchange Binance was hacked back in May, and saw one single transaction take 7,000 BTC from its hot wallet. The exchange covered the loss with its Secure Asset Fund for Users (SAFU), and the hackers still haven’t cashed out their ill-gotten funds.
Most other cryptocurrency exchanges reacted to the incident by blacklisting the address associated with the stolen funds. Blockchain data analysis has revealed those behind the hack have been moving the funds around through a number of addresses, consolidating them to seven merely a few days after stealing the bitcoins.
The #Binance hacker once again moved the #btc to new addresses! This time all of it according to analysis by https://t.co/CdRIXBaJ5a @amlt_token— Coinfirm (@Coinfirm_io) May 9, 2019
After we documented the movement of some yesterday(orange) all of the funds 7070.9 BTC ($41.8m) were moved to 7 new addresses(red) pic.twitter.com/4vzVFRb7F4
CryptoSlate reports that Coinfirm’s co-founder and CMO Grant Blaisdell provided the news outlet with data that shows the hackers, moved 5.985 BTC to Kraken, 0.125 BTC to Huobi, 0.2987 BTC to Luno, as well as smaller amounts to other exchanges, to see if their funds would end up being frozen.
This after moving their ill-gotten funds through a bitcoin tumbler that helps conceal the origin of funds: ChipMixer. Per the publication, at least 6.46 bitcoin, worth over $70,000, were sent to the mixer.
While bitcoin mixers are a somewhat popular service, regulators often frown upon them. Earlier this year, the Dutch Financial Criminal Investigative Service (FIOD) announced that with assistance from Europol it seized one of the three largest cryptocurrency mixing services, Bestmixer.io.
Bitcoin Blender, a top cryptocurrency mixing services, shut down shortly after the seizure, presumably to avoid the same fate. Whether the exchanges that received the stolen funds froze them is unclear, although it would make sense for them to do so as their origin has been revealed.