Hackers making most of the approximated crypt of a bagpet worth $ 1,4B

Hackers who stole about 1.4 billion dollar crypto exchange Bibit transferred almost all looted income and turn them into Bitcoin, which experts call the first phase of money laundering phase.

21. February Bibit said that “sophisticated attack” was on one of the company’s wallet resulted in a stealing of 401,346 ethereemIt is worth about $ 1.4 billion at the time, in which the greatest crypt of the crypt in history and probably ever the biggest robberies of any kind. Blockian Monitoring Firms and researchers, Like the FBIThey accused the North Korean government to be behind Hack.

From a digital robbery, hackers moved to all Etherum, originally shared by the income between and converted most of the CRIPTO, and the Former Federal Prosecutor and a Senior Treasury official now Laboratories, also a block tracking firm.

Andrew Fierman, Head of National Security Intelligence on Blockoin Monitoring, told Techcrunch that the company follows about 90% of stolen bibits, “most of which were converted to (Bitcoin) and are held in ~ 4,400 addresses.”

“The remaining ~ 10% of stolen funds were lost on fees / freezing / insidious,” the company said. Off-ramps are services that cry into cash.

During this first phase between February 24 and 2. March, North Korean hackers took over steps to obscure the origin of stolen cryptocurries. According to the Redbord, hackers are mostly relying on Thorca, a decentralized protocol that allows users to replace the property through various blocks “without the need for a mediator.”

These laundry steps said Redbord, showed a “unseen level of operational efficiency” from hackers.

“This fast wash suggests that North Korea or expanded its money laundering infrastructure, especially in China, especially in China, improved their ability to absorb and prosecute illegal funds,” Redbord said. “The scale and speed of this operation represent new challenges for investigators, as well as traditional money laundering mechanisms (AML) (AML) that struggles to match the high volume of illegal transactions.”

At the same time, and Redbord and Robinson said it was just the beginning of the hacker.

“They still have a way to give up these funds,” Robinson Techcrunch said.

Redbord explained that, for now, the second phase involved the deposit of the “initial tranche” of stolen funds – now Bitcoin – in mixers, which are designed to “create suspicion of the search process” for investigators. Crypto mixers (Or butblers) are services designed to obscure the origin and destination of one’s cryptocorrija by mixing with the means of other users.

“To this point basically, anyone with patience and ready can follow the flow of the Committee. Mixers, however, are major obstacles for most investigators,” Robinson said.

However, Redbord noticed that mixers usually receive scope of several million to 10 million to 10 million a day, “whether these mixers can continue to absorb the amount of money in the game is an open question.”

In other words, while hackers received a large, breaking amount of pilant from Bibit, is still unclear how much hackers will be able to turn them into cash.

But there is still hope that BittyBt will return some of it, according to Robinson.

“It’s probably at least some of these funds to go through the exchange, where potentially they could freeze,” Redbord said. “It’s just a question of whether these exchange is conscious enough quickly to deal with stolen means.”

After hack, Bitibt offered a total size of $ 140 million Anyone who could help find funds and freeze them, a process that prevents anyone else to access funds. The company announced that he would pay 5% of the entity’s feedback, which successfully froze the funds “, and 5% of who first reported funds and led to frozen. Of this writing, Bobit lists only $ 4.3 million at 19 head hunters Official page award.

Bibit did not answer the comment request.