Chainalysis traces laundering of Binance’s stolen funds to Chinese networks

Chainalysis has traced the laundering of stolen Binance funds to Chinese networks, including over-the-counter platforms, following the $6.3 billion theft . Hundreds of thousands of dollars have reached those networks—a small fraction of the stolen cryptocurrency, but evidence that the hackers are attempting to cash out. Nearly $1 billion in stolen assets has begun flowing into laundering channels. Crypto companies have frozen about $3 billion , while roughly $2.42 billion in bitcoin and ether has shown little movement since the attack. Tracking the laundering of stolen Binance funds Chainalysis data show that hackers routed approximately $500 million through TRON , spreading the cryptocurrency among more than 1,000 addresses before transferring it to blockchains including Ethereum and Bitcoin .

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