The hackers who stole 7,000 BTC from Binance continue to layer funds in an attempt to launder and obfuscate the Bitcoin’s connection to the hack. Read the latest report on the movement of these coins from analytics firm Coinfirm.
In May, the world’s largest cryptocurrency exchange experienced its first major security breach, with hackers making away with 7,000 Bitcoin, now valued at over $82 million. Binance fully covered losses from the hack through its “SAFU” fund.
Following the hack, major exchanges reacted by blacklisting the stolen funds. Coinbase, Poloniex, Kraken, and Huobi would freeze the funds should hackers directly deposit them into accounts on the exchanges. To circumvent these controls, the hackers have continued to move the funds in an elaborate chain of transactions to obfuscate their connection to the hack.