Elliptic Maps Automated Laundering of $3.2B in Funds From Binance Theft

Elliptic attributes the Binance theft to North Korean-linked hackers. About $3.2 billion remains in addresses linked to the theft as laundering continues across multiple networks.

In fewer than four days, activity touched about 12,000 wallets across 11 blockchains and included more than 40,000 transactions. A new wallet was created roughly every 25 seconds on average. The fixed pace and batch processing point to conventional software automation rather than an AI system making decisions autonomously.

Tron was the main route, with funds split among about 7,700 addresses. At least $147 million had been bridged from Tron to Ethereum.

Transfers of Ether (ETH), Solana (SOL), NEAR and XRP began moving on Nov. 1. About 28 Bitcoin (BTC), valued at roughly $2.2 million, entered a Wasabi-style coinjoin mixer for the first time.

Confirmed proceeds cashed out were negligible.