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Cryptocurrencies

Hackers moved Binance's stolen cryptos

Monday 13 May 2019 | 01:39 PM CET

UK-based blockchain analytic company Coinfirm has affirmed that Binance’s hackers moved the stolen Bitcoins in several digital wallets.

As per Coinfirm, this move makes it more difficult to identify the true identity of the crypto thieves, while almost all of the coins are now veiling under seven new digital addresses. On 8 May 2019, Bitcoin exchange platform Binance was hacked through phishing and viruses, resulted in a theft of around 7,000 Bitcoin.

Thefts of digital coins from hacks and frauds had already hit USD 1.2 billion over Q1 of 2019, while in 2018 it had witnessed a loss of around USD 1.5 billion from crypto thefts. The crypto researcher considers that the movement of the cryptocurrencies could be traced, and the latest findings could offer clues to the identity of the crypto hackers. Also, to convert Bitcoin to a conventional currency, hackers would have to move the coins to a cryptocurrency exchange. This would require details of account holders, such as real-world identities, unless the fraudsters themselves had been owning a crypto exchange.

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