# Binance Hackers Expand Bitcoin Holdings by 2,300 BTC Stolen altcoins converted into bitcoin as hackers utilize complex laundering techniques to obscure funds. - **Source:** [Bitcoin News](https://brifing.si/source/d8aeaf1e-9839-4dad-9d25-7a6bf3fbeef8) - **Published:** 2026-11-07 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/124b3911-8efa-481e-ab37-6ccc9295db08 ## Escalating Crypto Theft Impact The October 29, 2026, breach of Binance remains the largest cryptocurrency exchange hack in U.S. dollar terms. Following the initial theft of 18,270.2 BTC, attackers have significantly expanded their holdings. Recent analysis confirms they successfully converted $175 million in stolen altcoins into approximately 2,300 additional bitcoin, further complicating the recovery process. ## Automated Laundering Mechanisms The laundering process is highly automated and sophisticated, utilizing over 20,000 wallets across 16 different blockchains. Forensic data indicates a rapid pace of activity, with roughly one new wallet created every 30 seconds and one transaction occurring every 10 seconds. This complexity is designed to effectively obscure the trail of stolen assets. ## Conversion of Stolen Assets Attackers systematically converted various stolen cryptocurrencies to consolidate their wealth into bitcoin. Approximately $90 million in Solana was processed, alongside significant volumes of XRP and Tron tokens. These assets were moved through decentralized finance protocols, including Thorchain and Sun.io, to facilitate cross-chain swaps before being finalized into bitcoin addresses. ## Obfuscation via Coinjoin Techniques To further hide the origin of funds, hackers utilized Wasabi Wallet coinjoins, a technique that mixes bitcoin from multiple participants. By November 7, approximately 88 BTC, valued at $6.7 million, had been processed through this method. This obfuscation strategy makes tracing the movement of the stolen capital significantly more difficult for investigators. ## Attribution to North Korea Blockchain forensic experts, including Elliptic co-founder Dr. Tom Robinson, have repeatedly linked the perpetrators of the Binance hack to North Korea. The state-sponsored nature of such large-scale cyberattacks is a recurring theme in the investigation. This attribution highlights the geopolitical dimensions of modern cryptocurrency theft and the challenges of international enforcement. ## Divergent Analytical Perspectives While Elliptic reports the addition of 2,300 BTC, data from Arkham Intelligence presents a slightly different view of the attackers' total holdings. Arkham records show the original 18,270.2 BTC balance increased to 18,384.725 BTC by November 7. These discrepancies reflect the inherent difficulty in tracking assets across fragmented, decentralized blockchain ecosystems. ## Status of Stolen Funds Despite the active laundering of altcoins, the attackers' primary bitcoin and ethereum holdings remain dormant. Additionally, the hackers moved 233.46 million stolen XRP, worth approximately $293 million, into six new wallets. These large, untouched balances suggest that the perpetrators are managing their stolen portfolio in stages to avoid immediate detection. ## Broader Security Implications The Binance incident underscores the persistent vulnerability of major trading platforms to sophisticated, automated cyberattacks. As hackers refine their ability to move funds across multiple chains, the reliance on blockchain analytics becomes critical for tracking illicit flows. The scale of this theft continues to challenge existing security protocols within the global crypto industry. ## Sources covering this story - https://news.bitcoin.com/featured/binance-hack-takes-another-twist-as-hackers-amass-2300-more-bitcoin/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._