BLOOMBERG · 2026-11-05 17:05 UTC

Binance Hack Funds Flow to Chinese Launderers, Chainalysis Says

North Korean hackers stole $6.3 billion from Binance in October; they are moving stolen cryptocurrency through Chinese money-laundering networks and across multiple blockchains to obscure origins. About $500 million has been moved through TRON blockchain across 1,000+ addresses; crypto companies have frozen $3 billion of stolen assets while $2.42 billion remains in Bitcoin and Ether. Chainalysis says only a negligible amount has reached Chinese laundering networks so far, but expects attackers to continue converting cryptocurrency and cashing out over months through brokers and exchanges.

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