Hackers stole about $6.43 billion from Binance, and the FBI has attributed the theft to TraderTraitor, a North Korean state-linked group. About $2.85 billion, or 44%, has been frozen or seized, according to blockchain analytics firm Elliptic. Tether and Circle froze stolen stablecoins, but about $786 million in stablecoins escaped the freezes.
Elliptic said the attacker moved funds through about 12,000 wallets on 11 blockchains in more than 40,000 transactions in under four days. It described the activity as automated but said it had seen no evidence of an AI agent making decisions. About $3.24 billion remains in addresses linked to the theft, while only a negligible amount appears to have been cashed out. Elliptic expects a cash-out through over-the-counter brokers over months, but said further freezes will be harder because ETH and Bitcoin cannot be frozen.
