A crypto wallet tied to Binance was hacked for $27 million in an attack, according to on-chain detective ZachXBT. The hacker then swapped the funds to ETH through various protocols before bridging to Bitcoin via THORChain.
This wallet had received the funds from Binance just a week ago. It also received the funds from another wallet labeled by Etherscan as a Binance smart contract address in May 2019.
Is it a wallet that was once traded with Binance or is the exchange itself being hacked? Binance has not yet responded, so it is speculation. In more positive news, Binance has frozen $11.8 million in crypto assets from executives of an undisclosed client in Montenegro. Binance CEO Changpeng Zhao revealed that the executives were kidnapped and forced to empty their crypto wallets during their “business trip.”
In just the first week of November, the crypto market witnessed many attacks. The two latest hacks occurred on DeFi Raft and Poloniex caused losses of $3.3 million and $125 million, respectively.