One of biggest hacks in industry moving forward
traced back to a Poloniex hacker-labeled address has occurred. Approximately 501 BTC, valued at around $32 million, were distributed across three new addresses in what appears to be an attempt to hide the origins of theThe largest transaction involved the transfer of 486.62 BTC, worth approximately $30.8 million, to a single address. Additionally, two smaller amounts of 10 BTC and 5 BTC, valued at about $623,000 and $316,000, respectively, were moved to separate addresses.
Beyond mixing services, other strategies might include using decentralized exchanges, which typically require no identity verification and provide additional anonymity. Hackers can trade the stolen Bitcoin for otheror tokens, further complicating the tracing process. However, most exchanges use AML protocols and procedures to avoid working with funds gained via illicit activities.
For now, however, the funds are easily traceable, and there is no possible way for the hacker to get away with it at this point in the investigation.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.
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