Crypto wallet loses $27 million in stablecoins in apparent hack: ZachXBT
A crypto wallet tied to Binance has lost $27 million in an apparent attack, according to crypto sleuth ZachXBT. The alleged attack occurred yesterday, draining the wallet of $27 million in Tether stablecoins (USDT).
The funds were then swapped to ETH through a variety of protocols before being bridged to Bitcoin via THORChain, according to ZachXBT’s analysis.
The wallet had received the funds from a Binance withdrawal just one week ago. The wallet also received funds from a wallet tagged by Etherscan as a Binance smart contract deployer address in May 2019, as ZachXBT pointed out.
Binance did not immediately respond to a request for comment from The Block.