$6.3 billion was stolen, and only part has been recovered; the rest of the money is looking for an exit.
Chainalysis disclosed that in the Binance hack, hackers are moving some assets through Chinese money laundering networks (including over-the-counter trading platforms). It has so far tracked hundreds of thousands of dollars flowing into related networks, only a small fraction of the total stolen amount. About $500 million was split across more than 1,000 addresses via the TRON network, then transferred to the Ethereum and Bitcoin networks.
At present, crypto companies have frozen about $3 billion, while another roughly $2.42 billion in BTC and ETH has remained almost untouched since the theft. The remaining nearly $1 billion has begun to enter laundering channels. A Binance spokesperson said the company is working with law enforcement, on-chain analytics firms, and stablecoin issuers to track and freeze related assets.
Observation scenario one: if large-scale stolen funds later undergo concentrated swapping, it may bring short-term selling pressure. Observation scenario two: if freezing cooperation continues to advance, the role of on-chain monitoring and stablecoin controllability in the industry will further increase.
Are you more focused on unusual movements in the stolen funds, or on the repeated narrative around platform security?
Source: PANews
Image 1: Chainalysis: Some Binance stolen funds flow into Chinese money laundering networks · Screenshot of source page
Image source: https://www.panewslab.com/zh/articles/01a1acbb-3e74-77b4-99ee-7ccc92bc1d9b
Chainalysis disclosed that in the Binance hack, hackers are moving some assets through Chinese money laundering networks (including over-the-counter trading platforms). It has so far tracked hundreds of thousands of dollars flowing into related networks, only a small fraction of the total stolen amount. About $500 million was split across more than 1,000 addresses via the TRON network, then transferred to the Ethereum and Bitcoin networks.
At present, crypto companies have frozen about $3 billion, while another roughly $2.42 billion in BTC and ETH has remained almost untouched since the theft. The remaining nearly $1 billion has begun to enter laundering channels. A Binance spokesperson said the company is working with law enforcement, on-chain analytics firms, and stablecoin issuers to track and freeze related assets.
Observation scenario one: if large-scale stolen funds later undergo concentrated swapping, it may bring short-term selling pressure. Observation scenario two: if freezing cooperation continues to advance, the role of on-chain monitoring and stablecoin controllability in the industry will further increase.
Are you more focused on unusual movements in the stolen funds, or on the repeated narrative around platform security?
Source: PANews
Image 1: Chainalysis: Some Binance stolen funds flow into Chinese money laundering networks · Screenshot of source page
Image source: https://www.panewslab.com/zh/articles/01a1acbb-3e74-77b4-99ee-7ccc92bc1d9b
