4064 BTC ($238M) Suspected Crypto Theft Moved to KuCoin, Railgun, ThorChain
CryptoNewsTerminal Staff19 Aug, 2024
4064 BTC ($238M) Suspected Crypto Theft Moved to KuCoin, Railgun, ThorChain
Blockchain security expert ZachXBT reported via Twitter that 4064 BTC (approximately $238 million), suspected to be stolen eight hours prior, was transferred to various exchanges, including Thorchain, Kucoin, ChangeNOW, Railgun, and Avalanche bridge. Cos (Cosine), the founder of blockchain security firm SlowMist, suggested that some of the funds might be linked to Genesis Global Trading. Notably, this incident underscores the ongoing challenges in the cryptocurrency industry related to theft and illicit activities. It also highlights the importance of robust security measures and collaboration among law enforcement and industry experts to combat these threats.
