WiretechnologyDextape brief
Stolen Binance Funds Drive DeFi Protocol Revenue Gains: Investigator
Daily revenue for some of the platforms rose as high as 2,229% as the Binance hacker laundered part of the stolen funds through them.
Dextape brief
North Korean hackers moved crypto worth hundreds of millions, stolen from Binance on October 30, and several DeFi protocols appear to have profited. Blockchain investigator dethective, posting on November 2, ranked SunSwap first with $29,697 tied to the attacker, followed by THORChain at $28,184, Relay at over $23,000, Symbiosis and Chainflip, for a total above $100,000 across five services. Figures based on Elliptic and FBI hack lists show THORChain and Relay daily revenue jumped 2,229% and 1,954% over typical October levels. Separately, SomaXBT traced $242 million through Tron in two days, with Tether freezing over $378 million in USDT. The FBI blamed North Korea's TraderTraitor on November 1, and the attacker reportedly received $42.7 million after losing $5.7 million to fees and slippage.
Why it matters: The case shows how stolen exchange funds can flow through decentralized protocols and generate fee revenue, raising questions for crypto readers about where laundered assets end up.
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