Crypto exchange Coinbase has reportedly saved thousands of its users from losing their Bitcoin. The crypto exchange said that they were about to send their BTC to Twitter hackers who hacked the social media giant’s official site last week and scammed $120,000 worth of Bitcoin (BTC) from people via a fake Bitcoin giveaway program.
An amount of 30.4 BTC worth $280K was saved
According to the crypto exchange, there were more than 1100 users who were going to fall for a Bitcoin scam, which appeared on Twitter last week. But luckily, they were saved from being trapped into it as Coinbase stepped in and stopped them from sending their bitcoin into the wrong hands.
Reportedly, they were going to send an amount of 30.4 BTC worth $280,000 to the addresses of Twitter hackers, but it was saved by Coinbase. This saved amount is double the amount that hackers stole.
Coinbase stepped in at the right time after finding out about this fake giveaway program. If the exchange had not intervened, these over one thousand users could have lost their BTC. This sudden response from Coinbase shows that the crypto exchange is seriously concerned with its users and their funds.
Still, there were fourteen users, according to the Chief Information Security Officer of the exchange Philip Martin, who had sent bitcoin worth $3,000 to these hackers despite the immediate step taken by the Coinbase exchange.
Stolen BTC Transferred to bitcoin mixers and Exchanges
A portion of these stolen bitcoins was sent to some prominent bitcoin mixers such as the Wasabi Wallet, while some were transferred to some crypto exchanges, as per the report from the blockchain analytics firms.
The co-founder and chief scientist at Elliptic, Tom Robinson said that hackers moved 22% of their stolen amount to the Wasabi Wallet. Furthermore, while talking to The Block Crypto, Robinson claimed that a small amount of these stolen BTC was also seen moving into some regulated crypto exchanges. However, Robinson did not reveal the names of those crypto exchanges.
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