Crypto exchange Gate has frozen two accounts linked to the attacker behind the $6.3 billion Binance security breach, following an alert from blockchain monitoring platform Lookonchain about suspicious deposits worth approximately $250,000.
The development adds another exchange to the growing network of platforms and industry participants monitoring the movement of funds connected to the Binance incident.
Lookonchain reported on November 2 that an address associated with the Binance attacker had transferred approximately $250,000 worth of USD to Gate over a 12-hour period. The transfers were made through multiple transactions to a Gate deposit address.
Following the alert, Gate said it had identified and frozen two accounts connected to the attacker. The exchange added that information relating to the accounts had entered its due diligence process and that it would fully cooperate with law enforcement and subsequent investigations.
However, Gate has not disclosed the identities of the account holders, the exact amount held in the frozen accounts, or whether the funds linked to the reported deposits have been recovered.
Exchanges step up efforts to track Binance-linked funds
The development comes as cryptocurrency exchanges and blockchain security firms work to track and restrict the movement of assets connected to the Binance breach.
On October 31, the US Federal Bureau of Investigation (FBI) officially attributed the theft to North Korea, identifying the operation as TraderTraitor. The agency also published cryptocurrency addresses associated with the attackers and urged exchanges, decentralised finance platforms and other virtual asset service providers to block transactions involving those addresses and related funds.
Binance has also been working with law enforcement agencies and industry partners to freeze affected assets. The exchange previously said approximately $3 billion worth of assets had been frozen through these efforts.
While Gate’s action represents another intervention in the effort to restrict the movement of the stolen assets, the exchange has not confirmed that it has recovered any of the funds.
The investigation remains ongoing, with blockchain monitoring firms continuing to track transactions linked to the attackers.
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