The breakthrough of Crypto.com could cost up to $ 33 million, an onchain analyst suggests

An Onchain analyst claims that Crypto.com’s loss in the latest security breach could be worth more than the reported $ 15 million.

Alias ​​ErgoBTC, a chain analyst at Bitcoin (BTC) research firm OXT Research, claims that the security breach at Crypto.com, which is said to have led to a loss of 4.6K ETH ($ 15 million), could to cost up to $ 33 million

Reports emerged on Monday that Crypto.com had stopped withdrawals “after a small number of users” underwent suspicious transactions on their accounts. The cryptocurrency exchange has since resumed withdrawals and confirmed that its users’ money is “safe”, but reports later surfaced that it lost 4.6K ETH ($ 15 million) and was laundered with the help of Tornado Cash.

ErgoBTC tweeted Tuesday, suggesting another 444 BTC ($ 18.5 million) were stolen from Crypto.com’s payout portfolio. ErgoBTC said OXT Research has detected a suspicious transaction of 52.55 BTC ($ 2.18 million) from Crypto.com’s portfolio.

After the transaction, “several hundred withdrawals” were made, which were then combined into four exits worth 67.75 BTC ($ 2.81 million) each, according to ErgoBTC. The four lots amount to 271 BTC ($ 11.25 million), all of which were laundered through a Bitcoin tumbler, a service that allows customers to combine multiple transactions and make it difficult for investigators to track bitcoin transfers.

The bitcoin cup, allegedly used by alleged perpetrators to launder 271 BTC, is a well-known tool used by North Korea’s cybercrime syndicate Lazarus, according to an ErgoBTC tweet.

According to ErgoBTC, the criminals behind the Crypto.com security breach also controlled another address holding 172.9 BTC ($ 7.25 million). Blockchair data reveals that the address received the funds at about the same time as other Crypto.com hacking transactions. However, at the time of writing, the alleged hacker has not yet transferred funds through a bitcoin service.

Related: ImmuneFi reports $ 10 billion in DeFi hacks and losses in 2021

At the time of publication, Crypto.com has not yet admitted any losses. Cointelegraph contacted Crypto.com for more details on its decision to suspend the withdrawals, but did not receive a response at the time of publication. This article will be updated pending new information.





Source link

Related Posts

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

22,764FansLike
3,328FollowersFollow
0SubscribersSubscribe

Recent Stories