Some of the biggest cryptocurrency news lately has been the theft of $170 million in NANO from the BitGrail platform. BitGrail shared this information with other exchanges like Binance, who have taken steps to freeze suspicious transactions. In a bank robbery, cash can disappear and investigators must often rely on forensic evidence to capture the criminals. But this is the blockchain, and cases where the distributed ledger tracks the path of every coin since inception, a bit of investigative savvy can often lead to valuable findings. When this large sum of NANO disappeared into the ether, Redditor DKmastaPLayA went to work and may have cracked the case.
According to this Redditor, a correlation existed between transactions on both the BitGrail exchange and the Mercatox exchange. Using the NANO blockchain inspector on RaiBlocks.net, the Redditor found that both exchanges were sending millions of NANO to the same addresses, at the same time.
He states that some of the crypto came directly from the BitGrail Representative 1 account, which is supposed to be “Bomber’s” cold wallet. According to the Redditor’s research, this happened at the time that the announcement was made that withdrawals were either frozen or unavailable on BOTH websites.
Keep reading to get the details on the blocks that were inspected to come to this conclusion, using data from as far back as January 17-19.
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