Ciphertrace, the forensic company Blockchain, has tracked funds obtained by Twitter hackers in the „gift“ scam to peer-to-peer (P2P) exchanges and betting sites with crypto-currencies.
On July 21, Ciphertrace reported that 0.2 Bitcoin (BTC) had been transferred to a P2P exchange through a peel chain also used by hackers to move funds to a crypto casino.
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Peel chains consist of chains of purses through which funds are gradually passed to conceal the movement of illegally obtained cryptomoney. This tactic is believed to be the preferred one of North Korean hackers, and Ciphertrace estimates that Chinese citizens with ties to North Korea have laundered over $100 million using peel chains.
A day earlier, on July 20, Ciphertrace reported that Twitter hackers had established several peel chains to move stolen funds to a variety of crypto-currency exchanges, P2P markets and gaming platforms.
The security company noted that amounts of approximately 0.1 to 0.15 BTC were being moved to exchanges located in India, the United States and Turkey.
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Ciphertrace has identified a total of 18 transactions made by hackers to various crypto platforms, including more than 1 BTC that was sent to a regulated exchange in Singapore.
While early reports showed that many of the hackers‘ transfers were destined for currency mixing services, the fraudsters appear to have since directed their laundering efforts to crypt-trading sites.
Ciphertrace also identified a transfer to a former Binance cold wallet that the company claims was intended for troll investigators.
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Ciphertrace releases a „predictive risk marker“
Ciphertrace announced today the introduction of „real-time transaction risk scoring“ aimed at flagging suspicious Bitcoin Evolution transactions before they are confirmed to your software package.
The new software aims to enable crypto-currency exchanges, payment processors and ATM operators to quickly freeze and investigate suspicious transactions before they are finalized in the blockchain.