Despite being touted as highly sophisticated crypto exchange, the world’s leading platform Binance sustained a high profile security breach in May 2019. After a week of upgrading its security system, the Changpeng “CZ” Zhao-led exchange resumed its operation. Even as Binance seemed to operate smoothly, the stolen funds were still lurking in the virtual world.
A latest Whale Alert revealed the movement of stolen funds on Bitcoin blockchain between two hacked wallets during the Binance’s security breach earlier this year.
⚠ 706.1 #BTC (8,038,240 USD) of stolen funds transferred from Binance Hack May 2019 to hack wallet
— Whale Alert (@whale_alert) July 8, 2019
The alert, sent out by the live crypto-tracker account, had a time stamp of Mon, 08 Jul 2019 08:47:01 UTC. The transaction hash was d7120218edfd6203832ff024c9c223c50915581fba06029332b1a0c75b43ecd3.
The sender of the hacked wallet bc1q3a5hd36jrqeseqa27nm40srkgxy8lk0v0tpjtp transferred 706 BTC [$8,038,240 ] to the recipient of another hacked wallet address bc1qqmq99wjvshzmqr3qnwsqxhsr4lr4vmgr0g8pfv.
On taking a closer look, the balance for the wallet address of the sender was found to be zero. Also, while other transactions involved a negligible amount of funds [Transaction Count: 11, Output Count: 10], the one that stood out was the 706 BTC to another Bech32 wallet address as noted by Whale Alert.
The receiver wallet revealed that the amount received was unspent at press time and the just had one transaction count.