Binance's stolen Bitcoin has moved to 7 addresses

09 May, 2019
by Will Heasman
Update
Binance's stolen Bitcoin has moved to 7 addresses

Binance revealed that a serious security breach had occurred yesterday detailing the aftermath of a hack in which more than 7000 BTC was appropriated from an exchange hot wallet.  

According to The Block, the 7000 BTC – worth around $42 million at current prices – has since been moved to seven new addresses, one which holds 707.1 BTC and six more that hold 1060.6 BTC each.

As reported yesterday, Confirm, the anti-money laundering firm, noted that the hackers initially moved the stolen BTC to two addresses the first being 1214 BTC, followed by another move of 1327 BTC.

Moving the funds around two several different addresses is a key component of money laundering, as pointed out by Blockchain analyst Amy Castor:

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