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 likely” still held by North Korea, Elliptic said. A further $2.85 billion, or 44% of the haul, has been frozen or seized, mostly stablecoins that issuers such as Tether and Circle froze within an hour of the theft. That compares with around 3% frozen after the $1.5 billion Bybit hack in February 2025, according to Elliptic.

The FBI has attributed the October 29 theft to North Korean hackers it calls TraderTraitor. North Korea has denied…