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Binance has identified and frozen some of the funds stolen from Cryptopia crypto exchange

Some of the funds stolen by hackers from cryptocurrency exchange Cryptopia were sent to Binance. The trading platform confirmed this information and froze the recipient accounts.

Yesterday, a Twitter user nicknamed @ShaftedTangu discovered that some funds stolen as a result of Cryptopia’s hack surfaced on certain Binance accounts.

The said accounts reportedly received roughly $7 500 in Metal (MTL), $6 750 in KyberNetwork (KNC), $7 181 in OmiseGO tokens (OMG) and $8 724 in EnjinCoin (ENJ). The hackers were attempting to launder $30 000 in total.

Changpeng Zhao, CEO Binance, has confirmed the said information and reassured that Binance team has already frozen “some funds”. He tweeted on the matter:

“Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high-risk maneuver for them.”

Zhao’s tweet gave rise to mixed reactions in the crypto community. For instance, one user expressed his puzzlement about CEO Binance’s reference to “social media” as a means of tracking suspicious transactions:

Changpeng Zhao’s response was the following:

“It’s quite easy to generate a brand new address. We (and no one) recognize every transaction out there. We already have very in-depth and detailed blockchain analysis.”

Yet, the question remains: if a regular Twitter user has been able to detect the transaction in question, how, and more importantly – why did Binance miss it?

On January 16, Binance has entered the European crypto market by launching a cryptocurrency trading platform on the island of Jersey. The initially available pairs include BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR.