Artificial brains or human scripts?
Elliptic reveals the truth about laundering the $6.4 billion from #hackeo a #Binance
AI in cybercrime?
Blockchain analytics firm Elliptic investigated the massive money laundering operation stemming from the historic $6.4 billion theft from Binance on October 29 and concluded there is no evidence that artificial intelligence was used. Although the process is automated, the transaction patterns are driven by conventional scripts supervised by humans, not autonomous AI agents.
The North Korean trail: The FBI confirmed that the attack was carried out by the North Korean hacking group TraderTraitor. In less than three days, they used nearly 20 automated software services to move funds through decentralized exchanges (DEXs), lending protocols, and cross-chain bridges.
Frozen funds vs. untouchable assets: So far, authorities and issuers have managed to freeze or seize $2.85 billion (44% of the stolen funds), consisting mainly of stablecoins. However, the hackers still control $3.28 billion spread across more than 950 wallets, concentrated in #bitcoin and #Ethereum (assets that central issuers cannot freeze).
A large-scale, interconnected operation: Elliptic found that about $16 million from this attack was diverted to addresses linked to the Bitget hack in September, suggesting that the same money-laundering operation is handling funds from both heists. The amount converted into physical cash remains insignificant.
#HackerAlert
$BNB
$BTC
$ETH
Elliptic reveals the truth about laundering the $6.4 billion from #hackeo a #Binance
AI in cybercrime?
Blockchain analytics firm Elliptic investigated the massive money laundering operation stemming from the historic $6.4 billion theft from Binance on October 29 and concluded there is no evidence that artificial intelligence was used. Although the process is automated, the transaction patterns are driven by conventional scripts supervised by humans, not autonomous AI agents.
The North Korean trail: The FBI confirmed that the attack was carried out by the North Korean hacking group TraderTraitor. In less than three days, they used nearly 20 automated software services to move funds through decentralized exchanges (DEXs), lending protocols, and cross-chain bridges.
Frozen funds vs. untouchable assets: So far, authorities and issuers have managed to freeze or seize $2.85 billion (44% of the stolen funds), consisting mainly of stablecoins. However, the hackers still control $3.28 billion spread across more than 950 wallets, concentrated in #bitcoin and #Ethereum (assets that central issuers cannot freeze).
A large-scale, interconnected operation: Elliptic found that about $16 million from this attack was diverted to addresses linked to the Bitget hack in September, suggesting that the same money-laundering operation is handling funds from both heists. The amount converted into physical cash remains insignificant.
#HackerAlert
$BNB
$BTC
$ETH
