$3.1 billion in stolen funds sits untouched in more than 20,000 wallets across 16 chains. Elliptic calls it “not yet laundered”—but is this really because the hackers are lazy? In Binance’s $6.3 billion heist, most of the stolen ETH and BTC still hasn’t moved. Ari Redbord of TRM Labs bluntly called it “cyberwarfare” and urged governments around the world to take action against North Korean hackers. Looking through these numbers, I thought of something else: the more intensive on-chain monitoring gets, the narrower the window for laundering becomes. The hackers know better than anyone that moving funds now would hand law enforcement leads, so they’d rather leave 20,000 wallets dormant. What’s really at stake isn’t technology, but time—the longer they wait, the more likely it is that investigators’ resources and attention will dwindle. Is this $3.1 billion waiting for a more favorable window, or has it become dead money that no one dares touch? $BTC $ETH