Bitcoins stolen from Binance are laundered through a Chipmixer mixer

Hackers who cracked the Binance cryptocurrency exchange in May continue to actively launder stolen bitcoins with the help of mixers.

Clain.io research team claims that a significant portion of the abducted
7074 BTC washed through the Chipmixer mixing service. According to Clain researchers, at least 4836 BTC have been laundered since June 12.

Services like Chipmixer mix bitcoins with coins of other users. Mixers are used to confuse traces of transactions. According to the researchers, since June 12, hackers have been actively mixing stolen BTC via Chipmixer.

“It was quite simple to follow the hacker’s next steps, since it is practically impossible to launder a large amount of coins in a relatively short period of time. Thus, we were able to find the initial pool of hacker addresses, ”the company notes.

Clain researchers note that Chipmixer has never processed such a large amount of funds. This suggests that most of the coins leaving Chipmixer are associated with one owner – a hacker who hacked Binance.

An analysis of the addresses shows that hackers broke the stolen funds into small batches of about 10 BTC. Dividing a large amount into small batches for mixing is one of the ways to prepare for converting cryptocurrency into fiat currency. Clain analysts note that 150 packets of coins were discovered during the active mixing period, and claim that a total of about 5300 BTC were mixed.

Of the 4,836 mixed coins, Clain identified 183 BTC from the hacker, as well as 814 BTC, which are also likely to belong to him. The Clain analysis provides little evidence that any mixed coins hit the open market.

In July, it was reported that hackers who hacked Binance in May started exchanging BTC for fiat currencies.