“North Korea Is Laundering Binance Hack Loot at One New Wallet Every 25 Seconds”

Key points

• About 44% of the $6.43 billion stolen from Binance has been frozen or seized.
• The attacker has used ~12,000 wallets and 40,000+ transactions in under four days.
• Stablecoins comprise $3.46 billion (54%) of the haul; $2.85 billion frozen or seized.
• FBI attributed the theft to TraderTraitor, a North Korean state-linked group.
• Elliptic expects a months-long cash-out via OTC brokers; funds may flow to Chinese networks.