Hackers Are Turning Binance’s Stolen Bitcoin Into Fiat

A new analysis by Coinfirm shows the movement of the bitcoin stolen from Binance into various wallets. The hack, which netted 7,000 BTC, happened on May 7, 2019 at 17:15:24 UTC and the hackers have been moving stolen bitcoin from wallet to wallet.

Now, however, Coinfirm has spotted some activity that suggests the hackers are moving their gains off of exchanges and turning it into fiat.

The first transaction happened here while other transactions followed. Most recently, however, it’s become clear that the hacker has begun liquidating the BTC on various exchanges.

“Analysis of one of the mainchains used by the hacker in layering stolen funds shows that they were able to liquidate at least 1.8087 BTC (21,000.00 USD) on the following exchanges,” said Coinfirm’s Grant Blaisdell. The transfers happened as follows:

Bitfinex: 0,7934 BTC

Binance: 0,4294 BTC

Bitmex: 0,0022 BTC

KuCoin: 0,0713 BTC

Kuna: 0,2482 BTC

Bitmarket: 0,2560 BTC

Crypterra: 0,0072…