In brief – About $3.11 billion of the $6.43 billion stolen from Binance remains in addresses linked to the theft, mostly in ETH and Bitcoin, according to Elliptic. – The laundering has used more than 20,000 wallets on 16 blockchains and at least 36 services, but only a…
gligible amount has likely been cashed out. – Elliptic expects the funds to be swapped into Bitcoin and cashed out through over-the-counter brokers over months, as happened after the 2025 Bybit hack. Around half of the $6.43 billion stolen from Binance last month has yet to be laundered, blockchain analytics firm Elliptic said in a report updated on Friday
About $3.11 billion remains in addresses linked to the theft, mostly in ETH and Bitcoin, and those funds are “very likely” still held by North Korea, Elliptic said. A further $2.85 billion, or 44% of the haul, has been frozen or seized, mostly stablecoins that issuers such as Tether and Circle froze within an hour of the theft. That compares with around 3% frozen after the $1.5 billion Bybit hack in February 2025, according to Elliptic.
Binance hack update: the XRP has started moving. About $50 million has been swapped, mostly through THORChain into BTC, with about $226 million still to move. Bitcoin converted from other stolen assets is now about 1,650 BTC ($124 million), almost twice the figure a day earlier.… — Elliptic (@elliptic) November 6, 2026 The FBI has attributed the October 29 theft to North Korean hackers it calls TraderTraitor.