In a recent tweet, Chinese journalist Colin Wu provided an update regarding a significant crypto hack that took place in August. The hack was alarming because it targeted a platform BitBrowser, frequently used by cryptocurrency enthusiasts who participate in airdrops.

Hackers Move Funds To Crypto Mixers

According to Colin Wu’s report, the perpetrators of the BitBrowser breach transferred 236.27 Ethereum tokens to a crypto mixer named eXch. This transfer was approximately $386,000, constituting about 70.6% of the stolen funds. 

The primary purpose behind transferring the funds to a crypto mixer is to conceal the origins of the funds. This approach enables the hackers to eventually liquidate them on centralized cryptocurrency exchanges.

Wu referred to a prominent blockchain security firm SlowMist, that has been closely monitoring the situation. Last Friday, the SlowMist team revealed that the hacker had transferred $110,000 from the stolen funds to new addresses across various blockchain networks. These networks comprised of Ethereum, zkSync Era, Arbitrum, and Optimism.

On August 29, the blockchain security team detected that the hacker had transferred more than $10,000 to cryptocurrency exchanges, specifically Binance, ChangeNow, and FixedFloat. 

It is essential to highlight that BitBrowser had previously released an official statement confirming the security breach. In their announcement, the platform revealed that the information stored on BitBrows

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Author: Kent Glory

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