- A crypto wallet with links to Binance has lost $27 million in an apparent hack, according to on-chain sleuth ZachXBT.
- The funds, made up of $27 million in Tether stablecoins, were laundered through a variety of services and transferred to Bitcoin through THORchain.
A crypto wallet tied to Binance has lost $27 million in an apparent attack, according to crypto sleuth ZachXBT. The alleged attack occurred yesterday, draining the wallet of $27 million in Tether stablecoins (USDT).
The funds were then swapped to ETH through a variety of protocols before being bridged to Bitcoin via THORChain, according to ZachXBT’s analysis.
It appears someone had 27M USDT stolen yesterday.
USDT was quickly swapped for ETH, then transferred to a number of services (FixedFloat, ChangeNow, etc), and bridged to Bitcoin via THORChain. pic.twitter.com/SgEBwyZZSc
— ZachXBT (@zachxbt) November 12, 2023
The wallet had received the funds from a Binance withdrawal just one week ago. The wallet also received funds from a wallet tagged by Etherscan as a Binance smart contract deployer address in May 2019, as ZachXBT pointed out.
More news on this coming soon.