27 Million Dollars In Tether Stolen From The Binance Deployer-Connected Wallet

The stolen funds were bridged to bitcoin through THORChain.

Blockchain analyst ZachXBT reports that $27 million worth of tether (USDT) was stolen from a wallet connected to Binance deployer. The funds were rapidly converted to ether (ETH) before being transferred to FixedFloat and ChangeNow exchanges. Subsequently, the assets were bridged to bitcoin (BTC) through THORChain.

On-chain data indicates that the targeted wallet received ether through a Binance distributor four years ago. The deployer wallet is utilized for creating smart contracts.

THORChain has become a focal point for several hack incidents throughout the past year. In June, assets worth $35 million stolen from Atomica Wallet were attempted to be laundered through this platform.

Exchanges continue to be targets for hackers. Towards the end of last week, Poloniex reported a theft of $114 million following an attack on the exchange's hot wallets.