Binance Hackers Still Control $3.33 Billion, Race to…
By Abdelaziz Fathi
AI summary of the source article
Hackers still control approximately $3.33 billion following an estimated $6.3 billion theft from Binance, despite issuers freezing billions in stablecoins. Binance has committed over $6.34 billion in company funds to cover customer losses.
Why it matters
The remaining exposure illustrates the limits of on-chain asset freezes when attackers rapidly convert stolen tokens into decentralized cryptocurrencies.
Key facts
- Hackers retain control of roughly $3.33 billion out of an estimated $6.3 billion stolen from Binance.
- Issuers including Tether and Circle froze billions in stablecoins, with Elliptic verifying $2.84 billion frozen on-chain.
- Binance set aside over $6.34 billion in company funds to replace affected customer holdings.
Source excerpt · FinanceFeeds
Hackers responsible for the estimated $6.3 billion Binance theft still control approximately $3.33 billion in cryptocurrency that token issuers cannot directly freeze, despite coordinated intervention by stablecoin companies and blockchain networks. The remaining exposure illustrates the limits of on-chain asset freezes when attackers rapidly convert stolen tokens into decentralized cryptocurrenci…