$3.1B in Stolen Binance Crypto Has Yet to Be Laundered: Elliptic

Elliptic says about half of the $6.43 billion stolen from Binance last month remains in addresses linked to the theft, with the funds very likely still held by North Korea. The scale of the money frozen so quickly is also notable: stablecoin issuers froze or seized $2.85 billion, or 44% of the haul, compared with around 3% of the funds stolen in the 2025 Bybit hack.

Elliptic estimates that $3.11 billion remains, mostly in Bitcoin and Ethereum, while laundering has involved more than 20,000 wallets across 16 blockchains and at least 65,000 transactions. Some assets have been moved or mixed, but the 18,270 stolen Bitcoin and the nine largest Ethereum addresses have not moved since shortly after the theft. Elliptic says the activity appears conventionally automated, with no evidence of AI decision-making, and expects the attacker to swap Ethereum for Bitcoin before cashing out over months; Binance is restoring services and says users can verify reserves.