🚨 The hackers are sitting on billions of dollars, and their biggest headache now may not be how to transfer the funds, but how to cash them out safely!
Some people might ask: The hackers stole so many crypto assets—can’t they just transfer them directly to an exchange, sell them, and turn them into cash? That’s exactly where the problem lies: exchanges usually have risk-control and freezing mechanisms. Once funds are identified as related to a case, transferring them in could get them flagged or even frozen, so cashing out smoothly is far from simple.
At present, the hackers still hold tens of billions of dollars’ worth of BTC and ETH, while other assets have reportedly been frozen. Meanwhile, the hackers are continuing to split up the funds and move them to different addresses, making the flow of funds on-chain increasingly fragmented.
But it’s important to understand that sending money to different addresses doesn’t mean it’s been laundered; and assets still moving on-chain doesn’t mean they can be successfully cashed out. The real challenge is getting the funds beyond the reach of tracking and risk-control systems—and exchanges, stablecoin issuers, and on-chain monitoring firms could all serve as points of interception.
This battle is far from over. Going forward, what matters more than how many addresses the hackers move funds through is whether these assets actually make it into channels where they can be converted to cash.👀$BNB $BTC $ETH
Some people might ask: The hackers stole so many crypto assets—can’t they just transfer them directly to an exchange, sell them, and turn them into cash? That’s exactly where the problem lies: exchanges usually have risk-control and freezing mechanisms. Once funds are identified as related to a case, transferring them in could get them flagged or even frozen, so cashing out smoothly is far from simple.
At present, the hackers still hold tens of billions of dollars’ worth of BTC and ETH, while other assets have reportedly been frozen. Meanwhile, the hackers are continuing to split up the funds and move them to different addresses, making the flow of funds on-chain increasingly fragmented.
But it’s important to understand that sending money to different addresses doesn’t mean it’s been laundered; and assets still moving on-chain doesn’t mean they can be successfully cashed out. The real challenge is getting the funds beyond the reach of tracking and risk-control systems—and exchanges, stablecoin issuers, and on-chain monitoring firms could all serve as points of interception.
This battle is far from over. Going forward, what matters more than how many addresses the hackers move funds through is whether these assets actually make it into channels where they can be converted to cash.👀$BNB $BTC $ETH
