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Binance Attacker Splits the Stolen BTC to Send to Different Wallets, Community Picks Coinbase As the Safest Exchange

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Fri, 05/10/2019 - 08:45
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Yuri Molchan
After the recent hack suffered by Binance, a DLT company Coinfirm has been tracing the stolen Bitcoin and says it has been moved to several different wallets
Binance Attacker Splits the Stolen BTC to Send to Different Wallets, Community Picks Coinbase As the Safest Exchange
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The 7,000 BTC stolen in a recent attack from the Binance exchange has now been transferred to seven different addresses, reports the Coinfirm blockchain company.

It has been keeping the community informed on its official Twitter account.

The Hackers are moving the stolen BTC away

This has been the fourth big security breach resulting in stealing a large amount of crypto in 2019 so far. The Binance hack follows those against Cryptopia, Bithumb, DragonEx.

The first report from Coinfirm said that the hacker had moved the stolen $40 mln in BTC to seven new addresses, splitting the stolen crypto riches.

Then, on May, 8 and May, 9, the company tweeted that part of the money was moved to more addresses after being split once again. On May, 8, the culprits transferred 1,214 BTC.

As per the Binance CEO, the initial hack was the result of long and patient work, when the culprits managed to get hold of users 2FA codes and other necessary data in bits which later enabled them to hack the hot wallets.

A crypto journalist Amy Castor believes that the cybercriminal is doing that to make the tracking of the funds a hard job to do.

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Binance VS Coinbase

In a comment thread under the aforementioned posts, users initiated a brief discussion as to which exchange is more secure Binance or Coinbase? An opinion was expressed that Coinbase guards its funds in a better way.

Binance VS Coinbase
https://twitter.com/Coinfirm_io/status/1126082101080743938
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.