Poloniex Hacker Transfers Massive $32 Million Bitcoin Stash
Popular blockchain investigator PeckShieldAlert reported on April 30 that an address associated with the notorious Poloniex hacker transferred 501 BTC, valued at roughly $32 million, to three new wallet addresses. The move appears to be an attempt to conceal the origin of the stolen funds.
PeckShieldAlert revealed that the largest Bitcoin transaction executed by the Poloniex hacker involved the transfer of 486.62 BTC, approximately $30.8 million, to a single address.
Two smaller amounts of 10 BTC and 5 BTC, valued at around $623,000 and $316,000, respectively, were also moved to new wallet addresses.
#PeckShieldAlert #Poloniex Hacker-labeled address has transferred ~501 $BTC (worth ~$32M) to 3 new addresses:
-bc1qvdfydd…kune2uut (486.62 $BTC, worth ~$30.8M)
-bc1qewwzl…qr5vff5p3 (10 $BTC, worth ~$623K)
-bc1qzr60y3…mcdsscvr (5 $BTC, worth ~$316K) pic.twitter.com/0htvMNhYCY
— PeckShieldAlert (@PeckShieldAlert) April 30, 2024
The incident traces back to a hot-wallet hack on the Poloniex exchange on November 10, which resulted in a loss of over $33 million.
PeckShieldAlert initially reported the hack and notified the exchange. This was followed by insights from other on-chain analysts, particularly Tom Wan, who revealed that the thief had stolen several assets, including ETH and LINK coins worth $10 million and $2.4 million, respectively.
A @DuneAnalytics query ready for you to track how much the Potential hacker got from Poloniex
Currently estimated loss at ~$34M, including:
– $10M ETH
– $2.56M GLM
– $2.4M LINK
and more https://t.co/judOiLzv4q pic.twitter.com/gcB4eofdwB
— Tom Wan (@tomwanhh) November 10, 2023
Subsequently, Lookonchain analysts disclosed that the Poloniex hacker attempted to launder the stolen funds by exchanging them for
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