BlocksInform
This article will be updated while awaiting further information.
Pseudonymous ergobtc, a chain analyst at bitcoin (btc) research company oxt research, claims that the CRYPTO.COM security breach that was said to have caused the loss of 4.6 k eth ($15m), can be worth up to 33 million dollars.
Adding another 444 BTC to the previously reported 4.6k ETH from yesterday's @cryptocom hack.
There is still no recognition of losses, despite significant outflows from the eth tornado cash custody portfolio and a well-known btc tumbler (as detailed below). pic.twitter.com/GalJKM6bi9
— ?Ergo? (@ErgoBTC) January 18, 2022
On Monday, reports emerged that Crypto.com had halted withdrawals "after a small number of users" experienced suspicious transactions on their accounts. On Monday, reports emerged that Crypto.com had stopped withdrawing "after a small number of users" known suspicious transactions on their accounts.
Ergobtc tweeted on Tuesday suggesting that another 444 btc ($18.5 million) had been stolen from crypto.com's payment wallet. ErgoBTC said that OXT Research discovered a suspicious transaction of 52.55 BTC ($2.18 million) from Crypto.com's custodial wallet.
Following the transaction, "several hundred withdrawals" were made which were then combined into four outputs worth 67.75 btc ($2.81 million) each, according to ergobtc. The four lots totaled 271 btc ($11.25 m), which have all been laundered via bitcoin tumbler- a service that allows clients to combine several transactions and make it harder for investigators to trace bitcoin transfers.
The Bitcoin tumbler allegedly utilized by the alleged perpetrators to wash the 271 BTC is a well-known tool employed by the North Korean cybercrime syndicate, Lazarus, according to ErgoBTC's tweet.
According to ergobtc, the criminals behind the crypto.com security breach also controlled an additional address containing 172.9 btc ($7.25 million). Blockchair data shows that the address received the funds around the same time as other transactions related to crypto.com hack. However, from the release of this article, the alleged hacker has yet to transfer funds through a bitcoin tumbling service.
Related: ImmuneFi report $10B in DeFi hacks and losses across 2021
Fi reports $10 billion in hacks and losses in challenge in 2021. Cointelegraph contacted crypto.com for further information regarding its decision to discontinue withdrawals. Cointelegraph contacted Crypto.com for more information on its decision to suspend withdrawals.
