Binance Hackers Moved Stolen Bitcoin to 7 Addresses
Binance hackers have moved stolen bitcoin to 7 addresses, reported the crypto news outlet The Block. The hack occurred in about 7,074 bitcoins (BTC) — worth approximately $42.8 million being diverted from the exchange’s wallet. The event had 44 outputs, […]
Binance hackers have moved stolen bitcoin to 7 addresses, reported the crypto news outlet The Block. The hack occurred in about 7,074 bitcoins (BTC) — worth approximately $42.8 million being diverted from the exchange’s wallet. The event had 44 outputs, 21 of which were local Segregated Witness addresses, and those addresses got 99.97% of the reserves. The addresses are :
According to The Block, the supplies from those 44 addresses have been moved to 7 wallet addresses, six of which carry 1,060.6 BTC, while one carries 707.1 BTC. Earlier, anti-money laundering and counter-terrorist financing firm Coinfirm had proclaimed that its investigation revealed how 1,227 BTC were transferred to two new addresses, one carrying 707 coins, while the other one 520.
After the hack, Binance has gained huge support from the crypto community – both from the dealers and its rival exchanges. Significant exchanges including Coinbase denounced the addresses associated with the attack to stop the hackers from exchanging out the cryptocurrencies in fiat.
The hack occurred at 5: 15:24 PM on May 7 when hackers moved over 7,000 bitcoin from a particular Binance hot wallet into in a many of smaller wallets in a single transaction. The hackers then transferred small amounts into smaller wallets.
Hackers were able to capture user API keys, two-factor authentication (2FA), and conceivably other data. At this moment, Binance also doesn’t understand how many accounts have been hit. The hackers applied a variety of methods, including phishing, viruses and other attacks. The exchange is still gathering all potential techniques applied. There may also be extra hit accounts that have not been recognized yet.
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.
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Prasanna Peshkar
Prasanna Peshkar is a seasoned writer and analyst specializing in cryptocurrency and blockchain technology. With a focus on delivering insightful commentary and analysis, Prasanna serves as a writer and analyst at CryptoTicker, assisting readers in navigating the complexities of the cryptocurrency market.
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