Earlier in May this year, hackers managed to steal $41 million worth of cryptocurrencies from one of the world’s leading crypto exchange Binance. Hackers have now been trying to cash to out their loot through popular exchanges. Blockchain analytics data confirm that hackers have attempted to use exchanges like Kraken, Huobi, and CoinGate. Back in May, hackers stole 7000BTC in a single transaction from Binance hot wallets. Users of the exchange didn’t face any loss as it was covered by the company’s Secure Asset Fund for Users (SAFU).
After the incident, many cryptocurrency exchanges blacklisted the address associated with the stolen fund. Hackers transferred the 700 BTC to seven different addresses just after the few days of the incident. According to CryptoSlate report, the hackers moved 5.985 BTC to Kraken, 0.125 BTC to Huobi, 0.2987 BTC to Luno and some smaller amounts to other exchanges as well to see if their funds would be seized or not.
Hackers, after moving their ill-gotten funds through ChipMixer; a bitcoin tumbler that helps conceal the origin of fund. The exchanges that received the stolen funds have frozen them or not is not clear yet. Now as the source of the funds have been revealed, the crypto community is expecting the exchanges to freeze those funds.
