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AI summary of a third-party reportBearishNewsDesk

Elliptic says North Korea is laundering Binance hack funds via a new wallet every 25 seconds

Blockchain analytics firm Elliptic says the attackers behind the $6.43bn Binance theft have spread funds across about 12,000 wallets in under four days, while stablecoin issuers have frozen 44% of the haul.

InvestIn.News NewsDesk · 1 min read
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Picture from Decrypt for: Elliptic says North Korea is laundering Binance hack funds via a new wallet every 25 seconds
Image: Decrypt
Original reporting: Decrypt Staff, Decrypt

Key points

  • About $2.85bn, or 44% of the $6.43bn stolen, has been frozen or seized, against roughly 3% after the $1.5bn Bybit hack in February 2025.
  • About $3.24bn remains in linked addresses, mostly ETH and 18,270 Bitcoin that have not moved since the attack.

North Korean hackers are laundering the proceeds of the Binance theft at a rate of roughly one new crypto wallet every 25 seconds, according to an analysis by blockchain analytics firm Elliptic published on 2 November.

Stablecoin issuers responded faster. Stablecoins made up $3.46bn of the haul, though about $786m still got away.

Elliptic said the laundering is automated but shows no sign of an AI agent making decisions, citing fixed timing and pauses resembling working hours. About $3.24bn remains in linked addresses, mostly ETH and 18,270 Bitcoin, which Elliptic believes North Korea very likely still holds. It expects a months-long cash-out through over-the-counter brokers.

Read the full story on Decrypt

Live updates on NewsFeeds:StablecoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Decrypt’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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