Elliptic: $3.1B in Stolen Binance-Linked Crypto Still Unlaundered
Blockchain analytics firm Elliptic says most of the $3.1 billion in stolen Binance-linked ETH and Bitcoin has not moved, despite activity across 16 chains.
Blockchain analytics firm Elliptic has reported that roughly $3.1 billion in crypto stolen in an incident tied to Binance has yet to be laundered, according to Decrypt. The bulk of the stolen ETH and Bitcoin has not moved.
Wallet trail spans 16 blockchains
The attackers have used more than 20,000 wallets across 16 blockchains so far, Elliptic said. That broad wallet footprint has not yet translated into movement of most of the stolen ETH and Bitcoin, according to the report.
- Elliptic cites approximately $3.1 billion in stolen Binance-linked crypto
- Attackers have used more than 20,000 wallets
- The wallet activity spans 16 blockchains
- Most of the stolen ETH and Bitcoin remains unmoved
The findings focus attention on how stolen crypto is dispersed and tracked after an incident. Elliptic’s assessment indicates that the largest portion of the stolen assets has stayed in place rather than being moved through laundering channels.
Blockchain analytics firms routinely monitor wallet clusters and cross-chain activity to trace stolen funds. The report does not indicate that the assets are recovered, only that the bulk of the stolen ETH and Bitcoin has not yet been laundered.