Binance Attacker Moves $242 Million Through Tron as Over $3…
By Karthik Subramanian
AI summary of the source article
Attackers behind the October 29 Binance security breach moved approximately $242 million through Tron and cross-chain services. Around $2.85 billion has been frozen or seized, while an estimated $3.25 billion in stolen assets lacks centralized freezing mechanisms.
Why it matters
The movement of stolen assets through decentralized protocols complicates recovery because funds can be converted and redistributed without relying on a single intermediary.
Key facts
- Attackers moved roughly $242 million through Tron and protocols including THORChain, Relay, Chainflip, and Symbiosis.
- Elliptic estimated that $2.85 billion of the stolen cryptocurrency has been frozen or seized, while $3.25 billion lacks centralized freezing controls.
- US authorities attributed the Binance hack to North Korea's TraderTraitor operation, and Binance pledged to reimburse affected users.
Source excerpt · FinanceFeeds
Attackers responsible for the October 29 Binance security breach moved approximately $242 million through the Tron blockchain and associated cross-chain services within two days of the incident, according to on-chain investigator SomaXBT. The transfers represent part of the estimated $6.3 billion stolen from Binance-controlled wallets, rather than an additional theft. The activity comes as blockch…