Elliptic says Binance hackers swapped stolen tokens for $124M in bitcoin, exchange plans more withdrawal reopenings
The attackers in last week's $6.43 billion breach of the Binance crypto exchange have managed to swap around $124 million in altcoins into bitcoin, according to an update from blockchain analysis firm Elliptic.
This is on top of the $1.48 billion in bitcoin stolen in the attack, which is being attributed to North Korea.
Elliptic added that the laundering operation has thus far used more than 20,000 wallets across 16 blockchains and 65,000 transactions, in an attempt to obfuscate the source of the funds. Despite this, the firm estimated that only a "negligible amount" has likely been cashed out.
The largest portion of the converted bitcoin came from stolen XRP swapped through THORChain. Elliptic's report said that by early Friday, roughly $50 million in XRP had been swapped, primarily into bitcoin, with about $226 million remaining.
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The attackers in last week's $6.43 billion breach of the Binance crypto exchange have managed to swap around $124 million in altcoins into bitcoin, according to an update from blockchain analysis firm Elliptic.
This is on top of the $1.48 billion in bitcoin stolen in the attack, which is being attributed to North Korea.
Elliptic added that the laundering operation has thus far used more than 20,000 wallets across 16 blockchains and 65,000 transactions, in an attempt to obfuscate the source of the funds. Despite this, the firm estimated that only a "negligible amount" has likely been cashed out.
The largest portion of the converted bitcoin came from stolen XRP swapped through THORChain. Elliptic's report said that by early Friday, roughly $50 million in XRP had been swapped, primarily into bitcoin, with about $226 million remaining.
$BTC
$ONE
$SOL
#JobsReportRaisesHikeOdds
#CPITestsDecemberRateOutlook
#WillUS-IranTensionsBoostSafe-HavenDemand?
#WillUS-IranTensionsBoostSafe-HavenDemand?
#TradFiForBeginners
