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https://www.coindesk.com/hackers-are-turning-binances-stolen-bitcoin-into-fiat
Just how safe is Bitcoin?
Hackers Are Turning Binance’s Stolen Bitcoin Into Other Cryptocurrencies
John Biggs
John Biggs
Jul 16, 2019 at 11:30 UTC Updated Jul 17, 2019 at 22:44 UTC
NEWS
UPDATE (16 July 2019, 14:51 UTC): A correction has been made to remove the suggestion that all of Binance’s stolen BTC has been moved into fiat. Many of the associated exchanges do not offer fiat pairs.
A new analysis by Coinfirm shows the movement of the bitcoin stolen from Binance into various wallets. The hack, which netted 7,000 BTC, happened on May 7, 2019 at 17:15:24 UTC and the hackers have been moving stolen bitcoin from wallet to wallet.
Now, however, Coinfirm has spotted some activity that suggests the hackers are moving their gains off of exchanges, potentially into other cryptocurrencies.
The first transaction happened here while other transactions followed. Most recently, however, it’s become clear that the hacker has begun liquidating the BTC on various exchanges.
(Graph courtesy of Coinfirm)
“Analysis of one of the mainchains used by the hacker in layering stolen funds shows that they were able to liquidate at least 1.8087 BTC (21,000.00 USD) on the following exchanges,” said Coinfirm’s Grant Blaisdell. The transfers happened as follows:
Bitfinex: 0,7934 BTC
Binance: 0,4294 BTC
Bitmex: 0,0022 BTC
KuCoin: 0,0713 BTC
Kuna: 0,2482 BTC
Bitmarket: 0,2560 BTC
Crypterra: 0,0072 BTC
Bitcoin.de: 0,0007 BTC
WazirX: 0,0003 BTC
While caveats apply, it’s clear that the hacker moved an amount of BTC to each of these exchanges and there they either left the chain or remained dormant. This is obviously cold comfort to those who are watching their stolen crypto hop from exchange to exchange.