The cryptocurrency market has been a victim to multiple hacks where exchanges and users lost various cryptocurrencies. One of the recent examples was the Binance hack where 7,000 BTC were stolen from Binance’s hot wallet. However, with vigilant tracking apps, these funds can enter the system and it is difficult to identify when mixed with other funds. Many websites actively help move black money when converted into crypto and other illegal activities.
Whale alert, a tracker of large cryptocurrency-related transactions, could be used to follow suspicious transactions. A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt. The hash rate for the transaction was reported to be 7178961eed5844d218b36d0b17b2ec6758d28311449a1c14d98176aa99b63fb7.