WiretechnologyDextape brief
North Korean Hackers Laundering Record-Setting $6,400,000,000 Binance Haul via 12,000 Crypto Wallets Across 11 Chains: Elliptic
North Korean hackers behind last week’s record-setting $6.4 billion Binance heist are laundering crypto assets through a new wallet roughly every 25 seconds, per the blockchain analytics firm Elliptic.
Dextape brief
Blockchain firm Elliptic reports that North Korean hackers behind last week's $6.4 billion Binance theft are moving funds through a new wallet about every 25 seconds. The analysis calls the scheme automated, involving around 40,000 transactions and 12,000 addresses across eleven networks in under four days. Most of the funds initially passed through Tron before being bridged to Ethereum, and some have now been mixed. Tom Robinson, the firm's chief scientist, noted that $3.46 billion of the haul was stablecoins that issuers can freeze, so the thief swapped many into Ether and TRX. Elliptic puts the frozen or seized total at $2.85 billion, while Chainalysis links the attack to the North Korean group TraderTraitor.
Why it matters: The case shows how stolen funds can spread across many chains in a few days, and how issuer freezes have locked up billions of the haul.
Read the full story
Dextape context
Built from Dextape’s own wire, stories and glossary.
Terms in this story
- Blockchain
- A shared, ordered record of transactions, grouped into blocks, that independent computers check against the same protocol rules.
Mentioned in this story
Open a coin page for its current price.