Currencies33853
Market Cap$ 3.42T-0.52%
24h Spot Volume$ 47.22B-2.48%
DominanceBTC62.14%-0.03%ETH8.49%-0.38%
ETH Gas1.17 Gwei
Cryptorank

$27,000,000 in USDT Stolen by Hackers From Hot Wallet Connected to Binance Deployer: On-Chain Data


by The Daily Hodl

Hackers reportedly stole more than $27 million worth of the top stablecoin USDT from a Binance hot wallet over the weekend.

The on-chain researcher pseudonymously known as ZachXBT says that the victim’s address was connected to a Binance deployer wallet, which is used to generate smart contracts.

Image
Source: ZachXBT/X

The stolen USDT was quickly swapped for Ethereum (ETH) and then transferred to instant exchanges like FixedFloat or ChangeNow, according to the on-chain sleuth. ZachXBT says the hackers also bridged to Bitcoin (BTC) via the decentralized cross-chain liquidity protocol THORChain (RUNE).

Image
Source: ZachXBT/X

Explains the researcher,

“They will probably deposit the funds to a mixer or send them to a sketchy service next. To take large sums off-chain, OTCs (over-the-counter) [trades] are common (will be later on after funds have been laundered).”

The impacted Binance wallet was created in late 2021, according to the Ethereum-tracking website Etherscan. The wallet received the 27 million USDT from two  Binance addresses earlier this month.

USDT is the top stablecoin by market cap. It’s issued by Tether and aims to maintain a 1:1 peg to the US dollar.

Just last week, a hacker exploited the crypto exchange Poloniex for $125 million worth of crypto, including $56 million worth of ETH, $48 million worth of Tron (TRX) and $18 million worth of BTC.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post $27,000,000 in USDT Stolen by Hackers From Hot Wallet Connected to Binance Deployer: On-Chain Data appeared first on The Daily Hodl.

Read the article at The Daily Hodl

Read More

Coinbase Assists U.S. Secret Service in Seizing $225,000,000 in Crypto Tied to 2023 Pig Butchering Scam

Coinbase Assists U.S. Secret Service in Seizing $225,000,000 in Crypto Tied to 2023 Pig Butchering Scam

The American crypto exchange Coinbase helped law enforcement authorities seize millio...
TRON Blockchain Exceeds $80 Billion in USDT Stablecoin Circulation

TRON Blockchain Exceeds $80 Billion in USDT Stablecoin Circulation

TRON DAO announced that USDT on the TRON blockchain has exceeded $80 billion in circu...

$27,000,000 in USDT Stolen by Hackers From Hot Wallet Connected to Binance Deployer: On-Chain Data


by The Daily Hodl

Hackers reportedly stole more than $27 million worth of the top stablecoin USDT from a Binance hot wallet over the weekend.

The on-chain researcher pseudonymously known as ZachXBT says that the victim’s address was connected to a Binance deployer wallet, which is used to generate smart contracts.

Image
Source: ZachXBT/X

The stolen USDT was quickly swapped for Ethereum (ETH) and then transferred to instant exchanges like FixedFloat or ChangeNow, according to the on-chain sleuth. ZachXBT says the hackers also bridged to Bitcoin (BTC) via the decentralized cross-chain liquidity protocol THORChain (RUNE).

Image
Source: ZachXBT/X

Explains the researcher,

“They will probably deposit the funds to a mixer or send them to a sketchy service next. To take large sums off-chain, OTCs (over-the-counter) [trades] are common (will be later on after funds have been laundered).”

The impacted Binance wallet was created in late 2021, according to the Ethereum-tracking website Etherscan. The wallet received the 27 million USDT from two  Binance addresses earlier this month.

USDT is the top stablecoin by market cap. It’s issued by Tether and aims to maintain a 1:1 peg to the US dollar.

Just last week, a hacker exploited the crypto exchange Poloniex for $125 million worth of crypto, including $56 million worth of ETH, $48 million worth of Tron (TRX) and $18 million worth of BTC.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post $27,000,000 in USDT Stolen by Hackers From Hot Wallet Connected to Binance Deployer: On-Chain Data appeared first on The Daily Hodl.

Read the article at The Daily Hodl

Read More

Coinbase Assists U.S. Secret Service in Seizing $225,000,000 in Crypto Tied to 2023 Pig Butchering Scam

Coinbase Assists U.S. Secret Service in Seizing $225,000,000 in Crypto Tied to 2023 Pig Butchering Scam

The American crypto exchange Coinbase helped law enforcement authorities seize millio...
TRON Blockchain Exceeds $80 Billion in USDT Stablecoin Circulation

TRON Blockchain Exceeds $80 Billion in USDT Stablecoin Circulation

TRON DAO announced that USDT on the TRON blockchain has exceeded $80 billion in circu...