The Binance hackers are turning the stolen Bitcoin into other crypto

17 Jul, 2019 | Updated: 17 Jul, 2019
by Richard Allen
The Binance hackers are turning the stolen Bitcoin into other crypto

According to a report by Coinfirm, the 7,000 Bitcoin stolen from Binance on May 7 has been transferred by the hackers into various wallets. The hackers have been moving the Bitcoin around since the hack occurred.  

As per the report, Coinfirm has found evidence which shows that the hackers are moving their ill-gotten gains off of exchanges, perhaps with the intention of converting them into other cryptocurrencies.

The first transaction happened here while several others followed. However, its become known that the hackers have begun liquidating the Bitcoin on various exchanges.

“Analysis of one of the mainchains used by the hacker in layering stolen funds shows that they were able to liquidate at least 1.8087 BTC (21,000 USD) on the following exchanges,” said Coinfirm’s Grant Blaisdell. The transfers are as follows:

Bitfinex: 0,7934 BTC

Binance: 0,4294 BTC

Bitmex: 0,0022 BTC

KuCoin: 0,0713 BTC

Kuna: 0,2482 BTC

Bitmarket: 0,2560 BTC

Crypterra: 0,0072 BTC 0,0007 BTC

WazirX: 0,0003 BTC

As CoinDesk notes, it’s obvious the hacker has been moving the funds around and either left the chain or remained dormant.

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Read more about: Bitcoin (BTC) Binance


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