# Binance Hack Funds Distributed Across 12,000 Wallets in Four Days Automated laundering operation moves billions across eleven blockchains following a major security breach. - **Source:** [Bitcoin News](https://brifing.si/source/d8aeaf1e-9839-4dad-9d25-7a6bf3fbeef8) - **Published:** 2026-11-03 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/94394aac-eae0-4185-9dac-50490a661c5a ## Massive Laundering Operation Unfolds Following the October 29 theft of $6.43 billion from Binance, attackers utilized approximately 12,000 wallets to distribute stolen assets. This complex operation spanned 11 different blockchains and involved over 40,000 individual transactions. Elliptic analysts observed that the movement of funds occurred in under four days, demonstrating a highly sophisticated and automated laundering process. ## Automation Over Artificial Intelligence Contrary to speculation regarding advanced technology, the laundering process relied on conventional software scripts rather than AI agents. The operation maintained fixed timing and set amounts, executing one new wallet creation every 25 seconds. Evidence included recurring sequences where addresses received exactly 1 TRX for transaction fees before forwarding larger balances to other destinations. ## Bypassing Internal Security Controls Binance co-CEO Richard Teng confirmed the theft involved multiple entry points and successfully bypassed existing approval controls. The attackers employed a self-destruct mechanism to destroy attack tools and digital traces, significantly complicating the internal investigation. Authorities are currently examining how these specific security measures were circumvented during the initial breach of the exchange. ## Advanced Obfuscation Techniques Employed Attackers utilized lending vaults to deposit and withdraw funds without direct transfers between addresses, effectively masking the trail. Bitcoin mixing began on November 1, with 28 BTC passing through 18 coinjoins to combine inputs and outputs. These methods make individual asset movements significantly harder to trace for investigators monitoring the stolen digital funds. ## Protocol Safeguards Disrupt Laundering The laundering process faced unexpected delays due to Thorchain’s emergency swapping pause activated on October 31. This protocol safeguard, triggered by an accounting discrepancy involving 10 ETH, inadvertently hindered the attackers' ability to move assets across chains. Such infrastructure interventions provide critical windows for authorities to track and potentially freeze illicitly obtained cryptocurrency holdings. ## State-Sponsored Attribution and Investigation On October 31, the FBI officially attributed the Binance theft to the North Korean state-sponsored hacking group known as Tradertraitor. Federal agencies, including the U.S. Secret Service and IRS Criminal Investigation, are collaborating to track the conversion of funds into ether. Officials have urged global exchanges and decentralized finance services to block transactions. ## Current Status of Stolen Assets As of November 2, approximately $3.24 billion remained in theft-linked addresses, primarily held in bitcoin and ether. Elliptic reported that $2.85 billion has been frozen through various controls. The attacker retains $1.43 billion in bitcoin across 40 addresses and $1.37 billion in ether across 857 addresses, with some funds merged with previous exploits. ## Future Cash-Out Risks Remain While significant portions of the stolen funds are currently frozen, experts anticipate eventual cash-out attempts through over-the-counter brokers over several months. Stablecoin issuers and exchanges remain the primary intervention points for preventing further movement. President Donald Trump confirmed that U.S. officials are actively investigating the breach and monitoring the exchange's recovery efforts. ## Sources covering this story - https://news.bitcoin.com/security/binance-hack-funds-spread-across-12000-wallets-in-under-four-days/ — --- _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._