Binance hackers shift stolen bitcoin, identity still unclear: researchers
10 May 2019

Hackers who stole bitcoin worth over $40 million from the major Binance cryptocurrency exchange have moved the tainted coins to a number of digital wallets, researchers said on Thursday, potentially throwing up clues to those behind the heist.

Binance, one of the world’s biggest exchanges, said on Wednesday that hackers had stolen around 7,000 bitcoin through phishing and viruses, the latest in a string of cryptocurrency thefts to hit exchanges across the world.

According to London-based blockchain analytics company Coinfirm, the hackers have moved the stolen bitcoin through several digital wallets, with almost all the coins now sitting in seven digital addresses.

Theft remains a major problem for the emerging cryptocurrency sector, with high profile hacks alarming regulators and raising questions for larger investors over whether digital coins can be safely stored and traded.

Losses of digital coins from hacks and fraud hit $1.2 billion between January and March, around 70 percent of the level for all of 2018.

By Tom Wilson, Reuters, 9 May 2019

Read more at Reuters

Read more:

The compliance and KYC link between banks, bitcoin and exchanges

Japan probes two cryptocurrency exchanges after management changes: sources

FinCEN Issues First Penalty Against P2P Cryptocurrency Exchange

Advance your CPD minutes for this content, by signing up and using the CPD Wallet

FREE CPD Wallet

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.