North Korea Is Laundering Binance Hack Loot at One New Wallet Every 25 Seconds
Summary
North Korea-linked hackers stole $6.4 billion from Binance and rapidly dispersed it across about 12,000 wallets on 11 blockchains. Stablecoin issuers froze or seized roughly $2.85 billion, including Tether’s USDT and Circle’s USDC, while about $786 million in stablecoins escaped freezes. Around $3.24 billion remains in linked addresses, mostly ETH and Bitcoin. Elliptic says laundering is automated but found no evidence that AI agents are directing it. Binance covered losses and reopened withdrawals; Elliptic expects remaining funds may be converted to Bitcoin and laundered through brokers over months.
