- Binance froze $7M in funds linked to UK scam.
- $330M heist involves a Somalian scam center.
- Bitcoin whale targeted; industry vigilance increased.
A $330 million Bitcoin heist traced to a UK scam call center led to Binance freezing $7 million. The incident involved two individuals and targeted a US-based Bitcoin whale.
Highlighting both the vulnerability of individual holders and systemic responses, the incident underscores risks in crypto security, prompting increased vigilance among stakeholders.
The heist, connecting 3,520 BTC loss, is one of the largest individual scams. Efforts led by investigator ZachXBT and Binance have resulted in partial fund recovery. The perpetrators operated a scam center in Camden, UK. The targeted individual, an early Bitcoin whale, primarily used the Gemini platform. Binance, aided by on-chain experts and investigators, managed to freeze $7 million of the assets.
“So far, $7M+ has been frozen with the help of @CFInvestigators, @tanuki42_, Binance Security team, and myself.” – ZachXBT, On-chain Investigator, Twitter
The financial world closely monitors such substantial loss incidents, noting that over $300 million remains unaccounted for, potentially impacting liquidity. Extensions like converting funds to Monero have seen unusual price spikes.
Legal and regulatory entities have yet to comment on this high-profile heist. There’s a notable absence of any statements from global regulatory bodies or Binance leadership, apart from actions by Binance’s security team.
Previous incidents emphasize recurring challenges in crypto security, using privacy coins as laundering channels. This event further stresses the constant need for tighter anti-money laundering measures.
