On July 8, Whale Alert published two Twitter posts drawing attention to the move of Bitcoin stolen from Binance in the course of a hack earlier this year. Back then, Binance lost a great amount of BTC to a hacker.
Yesterday, an amount of BTC worth around $9 mln at today’s rate was moved to another address.
The stolen BTC gets moved around
On Monday, Whale Alert, which tracks crypto operations on a regular basis, spread the word that 706 BTC and 1 BTC were transferred to Bitcoin addresses that the analysts investigating the case had not previously noticed.
⚠ 706.1 #BTC (8,038,240 USD) of stolen funds transferred from Binance Hack May 2019 to hack wallet
— Whale Alert (@whale_alert) July 8, 2019
Tx: https://t.co/m7YnabMrrQ
⚠ 1 #BTC (11,384 USD) of stolen funds transferred from Binance Hack May 2019 to unknown wallet
— Whale Alert (@whale_alert) July 8, 2019
Tx: https://t.co/aZiYt65q6U
The Binance hack
In May this year, around 7,000 BTC were stolen from Binance. Changpeng Zhao urged traders to remain calm and promised to compensate the loss from the SAFU fund set up last year.
After the hacker attack had taken place, the BTC stolen from a hot wallet were sent to seven different addresses in an attempt to cover tracks. Since then, this is the first time the stolen crypto has been moved anywhere further.
After the hack took place, Binance started working on improving its security systems, upgrading its backend, systems of analyzing user behaviour and KYC procedures.
Earlier this year, the New-Zealand-based Cryptopia exchange suffered several successional hacker attacks and was forced to initiate liquidation.
Previously, U.Today reported that the Bitrue exchange, located in Singapore, also suffered from a security breach and lost a significant amount in XRP and ADA.
Tomiwabold Olajide
Godfrey Benjamin
