Tanya Abrosimova
Independent Analyst
- Clain analysis shows that hackers used Chipmixer to launder the loot.
- At least 4836 BTC were moved through this service.
At least 4836 BTC stolen from cryptocurrency exchange Binance have been laundered through bitcoin mixer Chipmixer, according to Clain, the supplier of KYC/AML solutions for the cryptocurrency industry.
The experts noted that hackers had started laundering the stolen coins on June 12, one month after the breach that cost Binance 7000 BTC. They discovered the pool of hacker's addresses where the coins had been transferred. By further investigating the case and applying neural network technologies, they managed to identify what happened next with the stolen money.
"We detected an extensive pool of Chipmixer's addresses in the course of the previous investigations and can confidently maintain that at least 4836 BTC of the hacker's monies was laundered through Chipmixer," the report says.
The mixer experienced a sharp growth of inflow, which is no surprise, considering the magnitude of the hack. It means that the outflow coming from Chipmixer those days was likely related to the hacker.
"A closer look into these clusters' inflow data revealed a direct connection of 183 BTC with a chain of transactions the hacker committed prior to laundering. We believe there are other 814 BTC likely to share the same connection, but it needs to be validated as soon as the funds start moving," the company added.
Notably, while investigating the case, the researches detected 1032 BTC related to the previous hack of BitPoint Exchange.
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