- SHIB investigator traces malicious transactions to Kucoin
- Kucoin hesitates on cooperation upon requests for a formal case
Following the recent Shibarium Bridge exploit that has posed serious threats to the SHIB community, Lucy, SHIB head of marketing, has called on law enforcement agencies to take action.
On Tuesday, December 2, Lucie tagged the FBI, Interpol, RCMP and KuCoin in a call for an intense investigation to expose the perpetrators of the fraudulent scheme.
According to her post, Lucie has not only called the agencies for action on the ongoing case alone; the executive has also urged them to address the broader rise in cyber attacks in the crypto space, which is increasingly concerning, expressing her belief that the agencies have the right tools to detect the actual perpetrators.
SHIB investigator traces malicious transactions to Kucoin
Lucie’s demand for due investigation and justice regarding rising fraudulent crypto schemes was triggered by the longstanding investigation into the Shibarium Bridge attack, which has yet to be resolved.
A local investigator from the Shiba Inu team, already looking into the case, revealed tracking thousands of transactions related to the breach, which were eventually traced to the leading cryptocurrency exchange, KuCoin.
According to the investigator, the team carefully discovered 48 KuCoin deposits using 45 unique deposit addresses.
The deposits were confirmed as malicious after observing 293 transactions of interest across 111 wallets, with roughly 260 ETH passed through Tornado Cash and 232.49 ETH traced to KuCoin.
The investigator revealed that they had leveraged a careless loophole by the hackers to make proper findings and freeze recoverable funds as the investigation continues.
He further explained that the money-laundering chain collapsed after a single, accidental transfer of 0.0874 ETH from a hacker-linked wallet to a supposedly “clean” withdrawal address, which ended up exposing some key details.
Kucoin hesitates on cooperation upon requests for a formal case
While the team is still struggling to recover stolen funds, the investigator further stated that the KuCoin fraud team has shown reluctance in taking due action on the case.
Despite requests for swift action on the breach, the exchange has demanded a law-enforcement case number before proceeding with takedown or recovery actions, despite receiving the on-chain evidence.
As such, the popular SHIB executive, Lucie, has called out the exchange, alongside other law enforcement agencies like the FBI and RCMP, to take swift action and provide adequate support for the investigation.
Source: https://u.today/shib-exec-calls-fbi-rcmp-and-interpol-to-action-on-surging-cyber-attacks
