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Hackers funnel 70.6% of stolen BitBrowser funds to eXch crypto mixer

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TL;DR Breakdown

  • SlowMist has been tracking the recent BitBrowser hack, revealing significant movements by the hackers.
  • The hackers transferred 236.27 Ethereum tokens, roughly $386,000, to a crypto mixer called eXch, accounting for 70.6% of the total stolen funds.
  • Using a crypto mixer aims to obfuscate the financial trail, enabling hackers to sell the assets on centralized exchanges without potential detection.

Description

In a riveting development, renowned Chinese reporter Colin Wu has shed new light on the high-profile BitBrowser hack that rattled the crypto community in August. Citing SlowMist, a leading blockchain security firm, Wu revealed that the hackers have made a significant move. Specifically, they transferred 236.27 Ethereum tokens, equivalent to roughly $386,000, to a crypto … Read more

In a riveting development, renowned Chinese reporter Colin Wu has shed new light on the high-profile BitBrowser hack that rattled the crypto community in August. Citing SlowMist, a leading blockchain security firm, Wu revealed that the hackers have made a significant move. Specifically, they transferred 236.27 Ethereum tokens, equivalent to roughly $386,000, to a crypto mixer known as eXch. This transaction accounts for an astonishing 70.6% of the total stolen funds.

Moreover, the objective behind this move is clear. By funneling the funds through a crypto mixer, the hackers aim to muddy the financial trail. Consequently, this would enable them to sell the assets on centralized exchanges without raising alarms.

Additionally, it’s worth noting that BitBrowser had previously come clean about the security breach. In an official statement, the platform admitted that its server data had been compromised. Hence, the recent revelations by SlowMist only add another layer to this complex narrative.

On Friday, SlowMist further updated the crypto community. The security firm disclosed that the hackers had moved $110,000 of the stolen funds to new addresses across multiple blockchain networks. These include Ethereum, zkSync Era, Arbitrum, and Optimism. Significantly, this diversification strategy complicates the task of tracking the stolen assets.

Besides, as of August 29, SlowMist captured data showing that the hackers had transferred over $10,000 to various crypto exchanges. These include Binance, ChangeNow, and FixedFloat. In a subsequent update, SlowMist reported that a small amount had also been sent to the embattled crypto mixer Tornado Cash.

However, this incident is not an isolated one. Cryptopolitan had earlier reported that the crypto world has seen losses amounting to about $1 billion due to hacks and exploits. August alone witnessed $45.8 million in losses from crypto-related criminal activities.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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