Blockchain intelligence firm Elliptic said in a November 6 update that about $124 million in assets stolen in the October Binance breach had been converted into Bitcoin, including funds originally held as XRP and Solana tokens. Investigators attributed the theft to North Korean-linked actors, but Elliptic said only a negligible portion of the stolen assets appeared to have been cashed out.
At its latest checkpoint, Elliptic estimated that about $2.85 billion of the original assets had been frozen and $3.11 billion remained in addresses linked to the theft. Those figures may change as tracing continues and market prices move. Blockchain records can show transfers, but cannot by themselves identify every person controlling the wallets or prove that converted funds have been cashed out.
