Hackers who stole about $ 1.4 billion in cryptocurrency from crypto exchange buybits have moved almost all robberies and turned them into Bitcoin, in which experts have called the first phase of money-laundering of peration.
On February 21, bybeat said that “sophisticated attack” on one of the company’s V Lets Let’s 401,346 resulted in the theft of EthereumIt costs about $ 1.4 billion at that time, what is the biggest crypto theft in history and probably the largest history of any kind. Blockchain monitoring companies And researchers, As well as the FBIThe North Korean government has been accused of being behind hack.
Since a digital robbery, hackers have moved all the Ethereum stolen from dozens of crypto V LETS letts, in which they originally divide income and converted most funds to Bitcoin, with crypto monitoring firm co-founder and main Vaj. According to Tom Robinson; And Ari Redbird, a former Federal Prosecutor and senior treasury officer, who is now head of policy in TRM Labs, also a blockchain monitoring firm.
Andrew Fimman, Head of the National Security Intelligence of Blockchain Monitoring Firm Channelis, Techcranchon said that the company was tracking up to 90% of the stolen buybeat funds, “most of whom have been converted to (Bitcoin) and, 4,400 addresses.”
“The remaining ~ 10% stolen funds have been lost in fee/freeze/-f-ramp,” the company said. Blow There are services that turn crypto into cash.
During this first phase between February 24 and March 2, North Korean hackers took steps to obscure the roots of the stolen cryptocurrency. According to Redboard, hackers did this mostly depending on the Thoraswap, a decentralized protocol that enables users to exchange assets in various blockchains “without the need for intermediaries.”
The laundering steps show “unprecedented operational efficiency” from hackers, “Redboard said.
“This rapid laundering suggests that North Korea has either expanded its money-laundering infrastructure or increased their ability to absorb and process illegal funds, especially in China,” Redboard said. “This of the scale and velocity of the peration presents new challenges for investigators, as traditional anti-money laundering (AML) methods struggle to keep pace with high volume of illegal transactions.”
At the same time, both Redbird and Robinson said that this was just the beginning for hackers.
“They still have a way to benefit from this fund,” Robins told Techcranches.
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Do you have more information about Bebit Hack, or other crypto hists? From non-work devices and networks, you can contact Lorenzo Francsey-Bikicheari on the signal at +1 917 257 1382, or by Telegram and Kebes @loranzofb, or Email. You can also contact the Techcrunch by Secure.
Redboard explained that, for now, the stolen funds in the second phase – now the “initial branch” of the Bitcoin – has been included in the “initial branch” depositing, which is designed for investigators to “doubt the tracing process”. Hidden Mixer (Or tumblers) are services designed to blur the origin and target of someone’s cryptocurrency with the funds of other users.
“To this point, anyone with patience and desire can follow the flow of buybeat funds. Mixers, however, have big obstacles to most investigators, “Robinson said.
Redboard noted, however, mixers usually get a few million to $ 10 million a day, so “whether these mixers can continue to absorb the amount of money in the game is an open question.”
In other words, when hackers have received the main, record breaking amount of robbery from the buybeat, it is not yet clear that the hackers will be able to convert to cash.
But according to Robinson, some of them are expected to recover.
“It is likely that at least some funds will go through exchanges, where they can potentially freeze,” Redboard said. “It’s just a question whether those exchanges are quickly aware that they are handling the stolen property.”
After the hack, Buybit offers a total bounty of $ 140 million Anyone who can find funds and help them and stabilize them, the process that prevents anyone else from the funds to the tok. The company said that 5% of the payments of it re -recovered “to” the entity successfully stabilizes the funds, “and 5% to whom the first funds were reported and frozen. According to this writing, bybeat has been given only 3 4.3 million to 19 Bounty hunters, according to The official page of the bounty.
Not responded to a request for a buybit comment.
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