Cryptocurrency exchange Gate has reportedly frozen two accounts linked to the attacker behind the recent Binance hack, following an alert about suspicious fund movements.
The action came after blockchain analytics platform Lookonchain flagged approximately $250,000 in transfers to Gate over a 12-hour period. The deposits were reportedly associated with addresses linked to the Binance hacker, prompting attention to the movement of potentially stolen funds.
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Freezing the two accounts could help prevent the suspected attacker from moving or withdrawing additional assets through the exchange. However, the reported action does not necessarily mean that the funds have been recovered or that the full amount has been identified.
The development highlights the role of blockchain monitoring platforms and centralized exchanges in tracking suspicious transactions. Although blockchain transfers are publicly visible, identifying the individuals behind wallet addresses and recovering stolen assets can remain difficult.
The incident also adds to ongoing concerns about the security of cryptocurrency exchanges and the movement of stolen funds across platforms. As investigations continue, the market will be watching for further account freezes, asset recovery efforts, and updates on the funds linked to the Binance attack.
