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Bitcoin stolen from Binance appear through Chipmixer

2019-08-08 04:55 pm | Resource: News Section | No Views : 33

Bitcoin stolen from Binance appear through Chipmixer At least 4,836 Bitcoin (BTC) stolen from the Binance cryptocurrency exchange were washed last May this year, through the Chipmixer mixing service.
After a major security breach on the cryptocurrency exchange Binance, which led to a loss of 7,000 BTC (more than $ 80 million at press time), hackers began to launder stolen money on June 12, 2019, according to research published by Luxembourg-based crypto capital flow firm Clain.
As Clain noted in the study, it was very easy to follow the steps of the attackers as it was "virtually impossible to wash large amounts of cryptocurrencies in a relatively short period of time", a group of hackers' addresses, while further extraction of those addresses allowed them to identify On the subsequent change in ownership of stolen funds using a neural network, the report explained.
As Clain discovered, stolen money from Binance was channeled to Chipmixer, which saw a historic rise in money flows. She said the unnaturally high volume allows one to assume that any outflow coming from Chipmixer these days is likely to have the same owner.
The research team estimated that the total amount of funds in the combined fund groups represents more than 5,300 BTC. Along with this amount, 183 Bitcoin has been identified as hackers 'money after the money laundering attempt, while another 814 BTC is likely to be confirmed as hackers' funds, awaiting confirmation once these funds begin to move.
The company concluded that the attackers were actively trying to dismantle the direct relationship with illegal sources using Chipmixer, while there was no evidence to suggest that hackers had transferred money to stock exchanges.
As previously reported, cryptocurrency mixing is an anonymous tool that claims to convert non-private currency transactions into special currencies by mixing funds with others, making it difficult to trace the origin of the original funds.
In mid-May this year, Europol closed, one of the top three companies, in a joint investigation with the Dutch and Luxembourg authorities, where authorities found that a large number of mixed currencies came from criminal activity and were allegedly used in Money laundering.
After the penetration of the cryptocurrency exchange Binance, on May 7, the proceedings were moved to seven addresses, and perhaps the coming days show the rest of the amount of Bitcoin (BTC) stolen from the exchange.

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