Hacking News
Elliptic Traces $124 Million in Bitcoin Swaps From Binance Hack
Blockchain intelligence firm Elliptic reported in a November 6 technical update that approximately $124 million in stolen assets from the October Binance breach have been converted into Bitcoin. The swapped assets originally included funds held as XRP and SOL. Investigators have attributed the large October cryptocurrency theft to North Korean-linked actors. While onchain tracing reveals the movement of these funds, Elliptic noted it cannot by itself identify every individual controlling the wallets or confirm if the converted assets have been cashed out. The laundering trail associated with the breach continues to evolve.