Logo
  • News
  • Prices
  • Data
  • Indices
  • Research
  • Events
  • Sponsored
  • Sign In
  • Sign Up
BTC logo
BTC
$121,705.08
2.74%
ETH logo
ETH
$4,289.27
1.12%
XRP logo
XRP
$3.2504
0.01%
USDT logo
USDT
$1.0001
0.00%
BNB logo
BNB
$818.96
0.98%
SOL logo
SOL
$184.70
0.09%
USDC logo
USDC
$0.9999
0.00%
DOGE logo
DOGE
$0.2383
1.63%
TRX logo
TRX
$0.3397
0.21%
ADA logo
ADA
$0.8240
0.17%
HYPE logo
HYPE
$45.95
3.90%
LINK logo
LINK
$22.20
3.28%
XLM logo
XLM
$0.4508
0.21%
SUI logo
SUI
$3.9413
0.36%
BCH logo
BCH
$575.55
0.47%
HBAR logo
HBAR
$0.2665
0.62%
USDE logo
USDE
$1.0008
0.00%
AVAX logo
AVAX
$24.31
0.32%
WBT logo
WBT
$45.61
1.98%
LTC logo
LTC
$126.16
2.74%
BTC logo
BTC
$121,705.08
2.74%
ETH logo
ETH
$4,289.27
1.12%
XRP logo
XRP
$3.2504
0.01%
USDT logo
USDT
$1.0001
0.00%
BNB logo
BNB
$818.96
0.98%
SOL logo
SOL
$184.70
0.09%
USDC logo
USDC
$0.9999
0.00%
DOGE logo
DOGE
$0.2383
1.63%
TRX logo
TRX
$0.3397
0.21%
ADA logo
ADA
$0.8240
0.17%
HYPE logo
HYPE
$45.95
3.90%
LINK logo
LINK
$22.20
3.28%
XLM logo
XLM
$0.4508
0.21%
SUI logo
SUI
$3.9413
0.36%
BCH logo
BCH
$575.55
0.47%
HBAR logo
HBAR
$0.2665
0.62%
USDE logo
USDE
$1.0008
0.00%
AVAX logo
AVAX
$24.31
0.32%
WBT logo
WBT
$45.61
1.98%
LTC logo
LTC
$126.16
2.74%
Ad
Markets
Share this article
X iconX (Twitter)LinkedInFacebookEmail

Stolen Binance Funds Still Being Laundered Through Mixers, Researchers Claim

Funds from Binance's May hack are still moving through a mixing service according to research firm Clain

By William Foxley
Updated Sep 13, 2021, 11:18 a.m. Published Aug 9, 2019, 8:00 p.m.
binancesingapore

Binance's recent hacker has been diligently washing funds stolen from the exchange back in May.

Clain.io, a Luxembourg-cryptocurrency capital flows research team, says the 7,074 stolen coins are being laundered through mixing service Chipmixer. Clain says at least 4,836 bitcoins were laundered since June 12.

jwp-player-placeholder
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

A bitcoin tumbling service mixes bitcoins with other users' coins. Since bitcoins are attached to the publicly verifiable blockchain, mixing services are used to obfuscate transaction histories that follow bitcoins around.

Chipmixer was overwhelmed with the funds, Clain states. From June 12 onward, the hacker dumped funds into the mixer with abandon.

"It was pretty straightforward to trace the hacker's subsequent steps as it is practically impossible to launder big volume of coins in a relatively short period of time. Thus, we were able to detect the initial pool of hacker's addresses," the company wrote.

Clain says that Chipmixer has never handled inflows of such high volume, leading them to conclude that most funds coming out of Chipmixer today are related to one owner, the Binance hacker.

Image via Clain.io

Address analysis shows the hacker further breaking his loot into smaller sums of around 10 coins. Breaking the lump sum into small mixed batches is one way to prepare for off-ramping cryptocurrencies into fiat. Clain says 150 clusters were detected during the active mixing period and further believes some 5,300 bitcoin have been clustered overall.

Of the 4,836 coins tumbled, Clain has identified 183 bitcoins from the hacker with another 814 very likely to be from the hacker.

Clain's analysis shows little evidence to indicate any of the coins have hit the open market.

Image via CoinDesk archives

hackingExchangesNewsCoin MixingBinance
William Foxley

Will Foxley is the host of The Mining Pod and publisher at Blockspace Media. A former co-host of CoinDesk's The Hash, Will was the director of content at Compass Mining and a tech reporter at CoinDesk.

X icon
CoinDesk News Image

More For You

[Test LCN] Lorem ipsum dolor sit amet, consectetuer adipiscing elit.

By CoinDesk
Aug 7, 2025
Breaking News Default Image

Test dek

Read full story
Latest Crypto News
Breaking News

[Test LCN] Lorem ipsum dolor sit amet, consectetuer adipiscing elit.

Aug 7, 2025
Breaking News

[Test Today label] Lorem ipsum dolor sit amet, consectetuer adipiscing elit.

Aug 7, 2025
FastNews (CoinDesk)

[Test Fast News] Industry-Funded Polls Back Crypto Message: They Have Enough Voters to Make a Splash

Aug 6, 2025
Breaking News

[Test Breaking News] Crypto Cash Fueled 53 Members of the Next U.S. Congress

Aug 6, 2025
Breaking News

[Test one more time; LCN block] DUPLICATE

Aug 5, 2025
Breaking News

[Test one more time; LCN block]

Aug 5, 2025
Top Stories
JPMorgan Chase CEO Jamie Dimon (Photo by Kevin Dietsch/Getty Images)

JPMorgan To Allow Clients To Buy Bitcoin, Says Jamie Dimon blah blah blah blah blah blah blah blah blah

May 19, 2025
Consensus 2025: Anthony Scaramucci, Founder, SkyBridge Capital

Scaramucci Says Bitcoin Treasury Trend Will Fade Despite Saylor’s Success

Jul 2, 2025
A barman shakes a cocktail shaker with an array of drinks bottles behind him.

Crypto Daybook Americas: Bitcoin Whiplash Shakes Market as U.S. Yield Spike Threatens Bull Run

May 19, 2025
Tokyo, Japan (Jaison Lin/Unsplash)

Metaplanet Buys Another 1,004 Bitcoin, Lifts Holdings to Over $800M Worth of BTC

May 19, 2025
Protocol Village is CoinDesk's living column chronicling blockchain tech project updates (CoinDesk)

Protocol Village: Starknet Claims to Shatter Transaction Speed Record Among Ethereum Layer-2 Networks

Oct 30, 2024
A breakdown of how well the Fairshake PAC did with candidates it backed.

Crypto Cash Fueled 53 Members of the Next U.S. Congress

Dec 3, 2024

Only 1 article remaining this month.

Sign up for free

About

  • About Us
  • Masthead
  • Careers
  • CoinDesk News
  • Crypto API Documentation
  • Blog

Contact

  • Contact Us
  • Accessibility
  • Advertise
  • Sitemap
  • System Status
Disclosure & Polices
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
EthicsPrivacyTerms of UseCookie SettingsDo Not Sell My Info

© 2025 CoinDesk, Inc.
X icon
Sign Up
  • News
    Back to menu
    News
    • Markets
    • Finance
    • Tech
    • Policy
    • Focus
  • Prices
    Back to menu
    Prices
    • Data
      Back to menu
      Data
      • Trade Data
      • Derivatives
      • Order Book Data
      • On-Chain Data
      • API
      • Research & Insights
      • Data Catalogue
      • AI & Machine Learning
    • Indices
      Back to menu
      Indices
      • Multi-Asset Indices
      • Reference Rates
      • Strategies and Services
      • API
      • Insights & Announcements
      • Documentation & Governance
    • Research
      Back to menu
      Research
      • Events
        Back to menu
        Events
        • CoinDesk: Policy & Regulation
        • Consensus Hong Kong
        • Consensus Miami
      • Sponsored
        Back to menu
        Sponsored
        • Thought Leadership
        • Press Releases
        • CoinW
        • MEXC
        • Phemex
        • Advertise
      • Videos
        Back to menu
        Videos
        • CoinDesk Daily
        • Shorts
        • Editor's Picks
      • Podcasts
        Back to menu
        Podcasts
        • CoinDesk Podcast Network
        • Markets Daily
        • Gen C
        • Unchained with Laura Shin
        • The Mining Pod
      • Newsletters
        Back to menu
        Newsletters
        • The Node
        • Crypto Daybook Americas
        • State of Crypto
        • Crypto Long & Short
        • Crypto for Advisors
      • Webinars
        Back to menu
        Webinars
        Select Language
        English enEspañol esFilipino filFrançais frItaliano itPortuguês pt-brРусский ruУкраїнська ukDeutsch deNederlands nl한국어 ko中文 zh