The hacker attacking the KuCoin exchange …

Hacker who attacked KuCoin exchange transferred 425 bitcoins to mixer for laundering

A hacker who attacked the KuCoin cryptocurrency exchange in September is actively moving and trying to launder bitcoins. This is the conclusion reached by Elliptic analysts.

Elliptic lead researcher Tom Robinson told The Block that they noticed the movement of stolen funds earlier this week. “The thief has now started moving the stolen bitcoins. The process continues, but of the 1,008 stolen bitcoins, 425 BTC were sent to the ChipMixer service mixer. It started on Monday morning, “he said..

Image: Elliptic

ChipMixer provides a means to obfuscate bitcoin transactions in order to hide the origin of the cryptocurrency. It allows users to make deposits in Bitcoin and receive so-called “chips” that can be split and mixed before withdrawal.

The hacker attacking the KuCoin exchange ...

As noted by the Ergo analyst, ChipMixer is unlikely to help an attacker hide the traces of the movement of assets, given the amount at his disposal and the amount of assets of other users in the service. In other words, the hacker runs the risk of continuing to mix bitcoins with his own, so outgoing transfers from the service will be easily linked to incoming ones. Ergo assumes that at least one of the mixing steps was not represented by a single third party user.

KuCoin was attacked on September 26, losing over $ 200 million. Subsequently, some of these funds were returned to the exchange or blocked by projects.

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