Binance Hack Analysis - Funds Moved To 7 Different Addresses.

Binance Hack Analysis - Funds Moved To 7 Different Addresses.

2019-05-10 | Big Bob

Binance Hack Analysis - Funds Moved To 7 Different Addresses.

In line with an official report published by ‘The Block’, the 'recent' Bitcoin [BTC] hack of renowned crypto- currency exchange ‘Binance’ has been transferred to seven different addresses.

The security breach resulted in the hack of over 7,000 Bitcoin’s [BTC] - priced nearly $44.7 Mln at the reporting time - being stolen from the exchange’s online wallets. The transaction had around '44 outputs', 21 of which were native SegWit addresses, and the addresses received around 99.97 Percent of the funds.

As per ‘The Block’, the funds from those 44 addresses are reportedly since transferred to seven addresses, six of which hold 1,060.6 Bitcoins [BTC], whereas one holds 707.1 Bitcoins [BTC]. Earlier, AML [Anti-Money-Laundering] and counter-terrorist funding firm ‘Confirm’ had revealed that its analysis showed how 1,227 Bitcoins were transferred to two new addresses, one holding around 707 coins, while the other holding 520.

Binance chief operating officer 'Changpeng Zhao' devoted his live AMA on 'Twitter' recently after the hack to handle community issues within the wake of the attack, additionally discussing the idea of a Bitcoin 'chain' reorganization.

As 'reported' just earlier this week, 8 individuals have been taken in remission in Spain for allegedly operating a ML [Money Laundering] scheme involving 'cryptocurrencies'.

Also, renowned American economist and Nobel award winner ‘Joseph Stiglitz’ shared  his negative stance against cryptocurrencies, 'stating' that he thinks “cryptocurrencies should be shut-down.”

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