BTC.com’s Stolen Funds Funneled Through Tornado Cash and CEXs: Report

Prominent cryptocurrency mining pool BTC.com suffered a cyberattack last month that resulted in a significant loss of company and user funds. New details have emerged regarding the whereabouts of the stolen funds.

According to the market research firm, X-explore’s analysis, most stolen assets were transferred to Tornado Cash while some amounts were also transferred to centralized exchanges Binance and Kucoin.

  • A BTC wallet transferred 32.5 BTC, worth around $550k, and is suspected to be stolen. The perpetrators could have laundered the funds with the help of a centralized BTC Mixer.
  • X-explore also claimed that a total of 1,964 ETH, worth around $2.4 million, was deposited to four new addresses and subsequently flowed to the coin mixer as well as other exchanges.
  • As reported earlier, the attackers pilfered digital assets worth $700k owned by BTC.com’s clients and nearly $2.3 million in asset value owned by its parent firm, BIT Mining Limited on December 3rd.
  • The cyberattack was reported to the Shenzhen law enforcement authorities in China a few weeks later, which then launched an investigation on Friday and began collecting evidence.
  • Upon discovering the breach, BTC.com said its team implemented technology designed to block and intercept hackers.
  • BTC.com happens to be one of the world’s largest cryptocurrency mining pools accounting for 3.8% of total mining pool distribution over the past seven days. The latest data suggested that its hash rate stood at 10.27 exahashes per second (EH/s)
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

You Might Also Like:


All Dutch and English crypto news!

‘LEAKED BIDS’ — Binance, Galaxy Digital among secret bidders for Celsius assets

At least five firms placed bids on Celsius Network's crypto assets, including Binance, Bank To The Future and Galaxy Digital, according to leaked information shared...

UK’s FCA hints at why its given only 15% of crypto firms the regulatory nod

Despite the plans to turn the region into a bustling crypto hub, the United Kingdom's financial watchdog says it has given the all-clear to only...

CFTC’s Johnson urges Congress for expanded powers in crypto oversight

Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that "closes the current gap in the oversight of crypto spot...

US Senator Ted Cruz pushes for crypto in Congress… using snacks

Texan Republican Senator Ted Cruz is pushing the United States Congress to adopt cryptocurrency within its halls using an incentive both sides might agree on...

Beste exchanges

Koop je crypto bij Bitvavo