According to Bloomberg, citing blockchain analysis firm Chainalysis, hackers behind the $6.3 billion Binance theft have begun moving portions of the stolen assets through Chinese money-laundering networks, including over-the-counter platforms. As of Nov 6, hundreds of thousands of dollars have been traced into these networks, representing a small fraction of the total theft and indicating the attackers are attempting to cash out funds. Chainalysis data shows hackers transferred approximately $500 million through the TRON network, dispersing it across over 1,000 addresses before routing to Ethereum and Bitcoin. Crypto firms have frozen roughly $3 billion in stolen assets; another $2.42 billion in BTC and ETH has remained largely inactive since the theft, while an estimated $1 billion has begun entering laundering channels. Binance stated it is coordinating with law enforcement, on-chain analysis firms, and stablecoin issuers to track and freeze related assets.
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