Binance Hacker May Be Moving Stolen Funds Through Chinese…
By Karthik Subramanian
AI summary of the source article
Cryptocurrency stolen in the $6.34 billion Binance hack may be passing through Chinese money-laundering networks, according to Elliptic. The attack, attributed by the FBI to North Korea-linked TraderTraitor, involved over 40,000 transactions across 11 blockchains.
Why it matters
The investigation highlights the challenges of recovering cryptocurrency once stolen assets are dispersed across decentralized financial infrastructure.
Key facts
- Attackers moved stolen funds through roughly 12,000 wallets across 11 blockchains via more than 40,000 transactions.
- Approximately $3.35 billion remained in addresses tied to the theft, mostly in Bitcoin and Ethereum, with minimal amounts converted to cash.
- Binance reported that around $2.85 billion in assets were frozen or intercepted, and it replenished 98% of impacted tokens using its own resources.
Source excerpt · FinanceFeeds
Cryptocurrency stolen in the $6.34 billion Binance hack may already be passing through Chinese money-laundering networks, according to blockchain intelligence firm Elliptic, as investigators continue tracking one of the largest digital asset thefts on record. In an analysis updated November 5, 2026, Elliptic said the attackers moved funds through approximately 12,000 wallets across 11 blockchains…