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Hackers are Shuffling Binance's Bitcoin chair



A team in the blockchain service company Coinfirm has seen the erratic movements of bitcoin associated with $ 40 million stolen in the past Binance breach.

At 4:11 on May 8, the hacker or hackers moved 1214 BTC ($ 7.16 million) to new addresses and then moved another 1337 "to 2 new addresses held by the hacker."

This is the fourth major exchange hack of the year, after Cryptopia, DragonEx and Bithumb.


] Picture via Coinfirm

The hack took place at. 17:15 on May 7, when hackers pulled over 7000 bitcoin from a single Binance wallet into a series of smaller wallets in a single transaction. The hackers then moved small amounts to smaller wallets. Given the nature of the BTC blockchain, it is easy to see where each Binance bitcoin goes, but it is difficult to execute real forensics on wallets to understand who – or what – created them.

Why the strong back and forth movement? Writer and blockchain analyst Amy Castor believes the hackers are trying to delete their tracks.

"Money laundering 101: breaking the transactions up into smaller and smaller quantities makes them more difficult to trace," she said.


Picture via Coinfirm

Picture via Shutterstock [19659000]
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