Source: ZachXBTOnce stolen, the attacker wasted no time laundering the Bitcoin using a peel chain method — a common obfuscation technique in which large sums are broken into smaller, harder-to-trace chunks.“$330M in BTC was received in two transactions, then immediately distributed via peel chains,” Yehor Rudytsia, onchain researcher at Hacken, explained to Cointelegraph.“Funds started to flow into multiple instant exchanges / mixers with small amounts, then mixers were distributing funds across multiple new wallets.
The biggest funnelling chain is now consists of 40+ wallets.”Related: Loopscale recovers $2.8M after weekend DeFi hack and bounty talksOver 300 wallets and 20 exchanges were involvedHacken’s internal tool, Extractor, tracked $284 million worth of BTC funneled through these chains, which now amounts to around $60 million after repeated “peeling” and redistribution across low-credibility exchanges.
Source: ZachXBTWhile attribution remains uncertain, experts agree the laundering tactics show rare automation and coordination for a heist of this magnitude.“So far, we haven’t been able to confidently link this activity to any known hacker group, as the laundering methods used — while sophisticated — don’t clearly match the signature patterns of previously identified actors,” Unal noted.
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Author / Journalist: Cointelegraph by Amin Haqshanas
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