Attackers started laundering the stolen funds in a month after the hack


Following a major Binance’s security breach that resulted in a loss of 7,000 BTC (more than $80 million at press time), hackers started to launder the stolen funds on June 12, 2019, according to research published by Luxembourg-based crypto capital flow firm Clain.

As Clain noted in the study, it was pretty straightforward to trace the subsequent steps of the attackers as it is “practically impossible to launder big volume of coins in a relatively short period of time.” As such, the researchers managed to detect the initial pool of hacker’s addresses, while further extraction of those addresses allowed them to recognise subsequent alteration to ownership of stolen funds by using a neural network, the btc news ays.


Hackers caused highest historic inflows on crypto tumbler Chipmixer



As Chain discovered, the funds stolen from Binance were directed to crypto tumbler Chipmixer, which reportedly experienced a historical high of fund inflows. Clain added that the abnormally high volume allows one to assume that any outflow coming from Chipmixer these days is likely related to the same owner.