Binance Attacker Splits the Stolen BTC to Send to Different Wallets, Community Picks Coinbase As …

After the recent hack suffered by Binance, a DLT company Coinfirm has been tracing the stolen Bitcoin and says it has been moved to several different …

The 7,000 BTC stolen in a recent attack from the Binance exchange has now been transferred to seven different addresses, reports the Coinfirm blockchain company.

It has been keeping the community informed on its official Twitter account.

The Hackers are moving the stolen BTC away

This has been the fourth big security breach resulting in stealing a large amount of crypto in 2019 so far. The Binance hack follows those against Cryptopia, Bithumb, DragonEx.

The first report from Coinfirm said that the hacker had moved the stolen $40 mln in BTC to seven new addresses, splitting the stolen crypto riches.

The #Binance hacker moved all 7070.9 $BTC ($41.8m) to 7 new addresses!

Here is a portion of an #Crypto AML Risk Report for the #BTC address with the most funds (over 1060) held by the hacker

Courtesy of https://t.co/6T1YOpGXZ0@Coinfirm_io & $AMLTpic.twitter.com/7pgYeIcCrh

— AMLT Token & Network (@AMLT_Token) May 9, 2019

Then, on May, 8 and May, 9, the company tweeted that part of the money was moved to more addresses after being split once again. On May, 8, the culprits transferred 1,214 BTC.

The #Binance hacker once again moved the #btc to new addresses! This time all of it according to analysis by https://t.co/CdRIXBaJ5a@amlt_token

After we documented the movement of some yesterday(orange) all of the funds 7070.9 BTC ($41.8m) were moved to 7 new addresses(red) pic.twitter.com/4vzVFRb7F4

— Coinfirm (@Coinfirm_io) May 9, 2019

As per the Binance CEO, the initial hack was the result of long and patient work, when the culprits managed to get hold of users 2FA codes and other necessary data in bits which later enabled them to hack the hot wallets.

A crypto journalist Amy Castor believes that the cybercriminal is doing that to make the tracking of the funds a hard job to do.

Money laundering 101: breaking the transactions up into smaller and smaller amounts making them more and more difficult to track. https://t.co/4uEzI8PcBg

— Amy Castor (@ahcastor) May 8, 2019

Binance VS Coinbase

In a comment thread under the aforementioned posts, users initiated a brief discussion as to which exchange is more secure Binance or Coinbase? An opinion was expressed that Coinbase guards its funds in a better way.

Binance VS Coinbase

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Craig Wright Aka “The Self-Proclaimed Satoshi Nakamoto” Submits Bitcoin Addresses

The man is claiming to be the inventor of Bitcoin and his latest moves involved sending legal notices to Ethereum’s founder Vitalik Buterin and …

You may recall that not too long ago, we reported that the whole crypto space seems to be having enough of Craig Wright’s speculation and major exchanges have begun delisting his token, BSV.

The man is claiming to be the inventor of Bitcoin and his latest moves involved sending legal notices to Ethereum’s founder Vitalik Buterin and podcaster Peter McCormack, according to the online magazine Investinblockchain.

The man threatened them with lawsuits for libel and defamation.

Wright submitted a list of BTC addresses

Following an order issued by the US District Court of the Southern District of Florida, the self-proclaimed creator of Bitcoin, Wright has submitted a list of BTC addresses that are associated with a blind trust.

More in-depth analysis could prove whether or not Wright really is Satoshi Nakamoto, the creator of Bitcoin, as he’s been claiming to be for quite a while now.

Wright is involved in an ongoing court battle against the estate of his former business partner Dave Kleiman, the Tokyo-based Bitcoin researcher and software developer Kim Nillson of WizSec said that the redacted addresses are “not hard to guess,” as reported by the Daily Hodl.

Instead, he claims that “Wright just scraped the blockchain for early block reward beneficiaries and claimed those.”

WizSec says that if you “Take the list of the first 70 block reward addresses (excluding the Genesis block) and they line up perfectly with Wright’s redacted list. We can even make educated guesses for the other redacted text by typing up candidate text in a word processor with matched formatting and checking whether it lines up with the original document.”

There are no cryptographic signatures to support ownership

WizSec continues and says “What Wright does provide appears to be just a lazy copy-paste from the blockchain, without any cryptographic signatures to support his claims of ownership.”

So, it seems that things are not exactly going the way Wright was hoping. We’ll keep you posted on the subject.

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Andreas Townsend

Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.