According to AML, the digital asset escort system of the China-based security firm PeckShield, on June 12, the team of MGC wallet was suspected of runaway, and users' digital assets were aggregated to the two addresses which start with 0x4f9cxx and 0x2b29xx, respectively, in a short time.
On June 13, PeckShield monitored that the address which starts with 0x4f9cxx began to carrying out money laundering operations. The procedures has been listed as follows:
In the first place, all the funds were transferred to different new addresses through multiple times;
Then, the funds in those new addresses were uniformly transferred to the Bittrex exchange, totaling 1,480 ETH with a total value of more than 2.6 million Chinese yuan (approx. $375,852).
At present, there are still 1,680 ETH stored in another address that begins with 0x2b29xx, and it is likely that the fund will be moved to the crypto exchange, according to the further inference.
In view of the recent accidents about the "runaway" of wallet teams, PeckShield security personnel remind that users should keep an eye on the identification of suspicious "fraud" wallets, and shall carefully participate in investment activities, in a bid to avoid the loss of digital assets.