KuCoin Thief Swapped stolen LTC for Bitcoin on CEX: Chainalysis
A new report from blockchain analysis company Chainalysis sheds light on where the $280 million in coins stolen in the KuCoin hack have gone.
While the hacker has been mostly using decentralized exchanges, namely Uniswap and Kyber, to launder funds, Chainalysis revealed that some of the altcoins stolen were used to purchase Bitcoin on centralized exchanges.
At least $13 million from last week's hack has been laundered through decentralized exchanges. But over $9 million has gone to centralized exchanges.
The third is garnering up courage
The KuCoin exchange’s trading volumes are, predictably, down since the hack. For the two months before the hack, KuCoin never dipped below $100 million in 24-hour trading volume. It’s currently below $90 million.