Elliptic: “hackers who hacked KuCoin use Wasabi Wallet to launder money»

Elliptic analysts continue to track the cryptocurrencies stolen from the KuCoin exchange. According to the researchers, hackers began using the Wasabi Wallet to launder money.

The Wasabi Wallet is known for supporting the CoinJoin privacy feature, which allows multiple participants to combine transactions to hide the sources of funds. This is a non-custodial open source wallet, the developers of which focus on ensuring the privacy of users.

Elliptic analysts noted that hackers use various tools to launder the funds received. Some of the stolen coins passed through decentralized platforms, while others were passed through mixing services.

Attackers who stole more than $150 million in various cryptocurrencies from the KuCoin exchange continue to come up with new ways to launder the stolen funds and withdraw them to the fiat currency. Recently, it was reported that hackers use the ChipMixer mixing service to hide the origin of funds.

Against the background of the hacking of the KuCoin exchange on Bits.Media released a large-scale material telling about how criminals and hackers launder illegally obtained crypto assets.