In brief
- About $3.11 billion of the $6.43 billion stolen from Binance remains in addresses linked to the theft, mostly in ETH and Bitcoin, according to Elliptic.
- The laundering has used more than 20,000 wallets on 16 blockchains and at least 36 services, but only a negligible amount has likely been cashed out.
- Elliptic expects the funds to be swapped into Bitcoin and cashed out through over-the-counter brokers over months, as happened after the 2025 Bybit hack.
Around half of the $6.43 billion stolen from Binance last month has yet to be laundered, blockchain analytics firm Elliptic said in a report updated on Friday.
About $3.11 billion remains in addresses linked to the theft, mostly in ETH and Bitcoin, and those funds are “very…
