DECRYPT · 2026-11-02 18:46 UTC

North Korea Is Laundering Binance Hack Loot at One New Wallet Every 25 Seconds

North Korean hackers stole $6.4 billion from Binance and spread it across 12,000 wallets on 11 blockchains in under four days, creating roughly one new wallet every 25 seconds. Stablecoin issuers froze or seized $2.85 billion (44% of the haul) within minutes - Tether froze stolen USDT in 37 minutes and Circle froze all $823 million in stolen USDC before any could be swapped. About $3.24 billion remains in addresses linked to the theft, mostly ETH and 18,270 Bitcoin that haven't moved; Elliptic expects the attacker to eventually swap ETH for Bitcoin and cash out through over-the-counter…

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