What is the Connection Between Hacking the Bitstamp Exchange and Theft of Tether

November 22, 2017

What is the Connection Between Hacking the Bitstamp Exchange and Theft of Tether

Analyzing the recent theft of Tether tokens amounting to $31 million, one cyber detective suggested that the same criminals were involved in the burglary of the Bitstamp exchange in 2015, the employees of this Bitcoin exchange lost about 18,000 bitcoins.

On Monday evening, the company that releases these tokens announced a robbery, which triggered a new wave of speculation around tokens and their supporters, as well as the role of the token in the recent market value of Bitcoin.

Obviously, the availability of blockchain data generated the observers' interest who began to track related transactions searching for answers.

The analysis is based on a wallet, which started receiving transactions from Bitstamp in January 2015. This address was used as a sender's for transferring bitcoins to another address, which, in turn, received tokens from the 'treasury wallet' Tether-21 transaction on 19.10.2017. The address with a balance of 5 bitcoins indicates the theft of $31 million in Tether tokens, which afterwards were distributed between three different wallets, because Tether uses Omni's protocol to effectively mark tokens. It is worth noting that the primary address mentioned above is related to the thefts of 2015 at the Huobi Bitcoin Exchange and a number of transactions in the p2p of the LocalBitcoins exchange.

Despite all these data, the identification information format other than wallet addresses is not very useful for investigation. However, if law enforcement agencies take up this crime, the data will undoubtedly come in handy.


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