Massive 12.5M Dollars Staked Asset Drain on BNBChain via Binance and OKX

Crypto News- In a recent and concerning development, PeckShieldAlert has shed light on a significant incident of stake drainage within the BNBChain ecosystem.

Massive 12.5M Dollars Staked Asset Drain on BNBChain via Binance and OKX

Over the course of the past four days, a group of malicious actors, known as stake drainers, managed to transfer approximately 59,500 BNB tokens, which translate to a substantial $12.5 million, to an intermediary address labeled as 0x2bbc…2cde.

Of this considerable sum, a staggering 58,300 BNB tokens, equivalent to roughly $12.46 million, have been observed to flow into the BSC Token Hub. However, the journey of these ill-gotten gains didn’t end there. The perpetrators took various routes to obfuscate their activities.

Some of the stolen BNB were funneled through the privacy-focused TornadoCash, accounting for a total of 33 BNB. Additionally, other portions of the illicitly acquired funds were dispersed to different cryptocurrency exchanges, including prominent names such as Okx, ChangeNow, and Binance.

Simultaneously, PeckShieldAlert disclosed a parallel incident unfolding on the Ethereum network. A stake drainer orchestrated the transfer of 2,227.3 ETH, valuing at approximately $3.6 million, directing these assets to two intermediary addresses: 0x30b6…4235 and 0xdd5f…3571.

What’s even more notable is that a significant chunk of the moved ETH has already undergone conversion into at least 80 BTC, which represents an approximate value of $2.16 million. This BTC was then routed through the Thorchain network.

Intriguingly, the intermediary address 0xdd5f…3571 also displayed interactions with Swft Blockchain and Binance. Presently, this address is actively engaged in the process of shifting the embezzled funds into BTC.

These audacious incidents underscore the ever-present need for heightened security and vigilance within the cryptocurrency space. As the perpetrators continue to evolve their tactics, the industry and its participants must remain steadfast in their efforts to safeguard digital assets and maintain the integrity of blockchain networks.