Hackers have utilized the crypto mixing tool Chipmixer as a laundering solution for not less than 4,836 Bitcoin (BTC).

Previously, the crypto exchange platform Binance has undergone an attack to the system, which resulted in 7,000 BTC (more than $80 million) worth of financial damage. The hackers have initiated their laundering process of the illegally acquired funds on June 12, as revealed by crypto capital flow company Clain.

According to Clain, the process of tracking back each step of how the attackers conducted the laundering act was straightforward, since it is “practically impossible to launder big volume of coins in a relatively short period of time.”

Therefore, Clain research team has been able to identify the initial pool of the hackers’ accounts, and extensive study on said accounts have helped researchers detect numerous changes to the ownership of the stolen sum, with the involvement of a neural network.

Per the study, the hacked Binance crypto fund was then moved to crypto tumbler Chipmixer to begin the laundering work, which has consequently created record-breaking inflow figures. Clain further noted that the extraordinarily large volume would make people inevitably think, any outflow from Chipmixer in the current days is originated from the similar owner.

A roughly calculated quantity of merged funds clusters make up over 5,300 BTC. Apart from that amount, 183 BTC has been discovered to be hackers-associated, post-laundering funds, and another 814 BTC is identified to be hackers’ funds, waiting for authorization to initiate their laundering process.

Clain has finally noted that the hackers are utilizing Chipmixer, in an effort to divide up the stolen funds into indirected ones, while there is no proof showing that the hackers have moved the funds to any exchanges.