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Binance hackers deploy never-seen-before laundering tactics to conceal $6.3 billion theft

By Oluwapelumi Adejumo

Hackers behind Binance's $6.3 billion breach are using previously unseen laundering tactics while rapidly converting stolen assets into other cryptocurrencies. On Oct. 30, blockchain analytics firm Chainalysis said that investigators identified thousands of transactions executed within short periods, suggesting the…

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Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

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Blockchain

A shared digital ledger in which records are grouped into blocks and linked so that past entries are very hard to change.

It underpins cryptocurrencies and is tested for payments, supply tracking and record keeping.

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