UPDATE: Frozen funds hit $2.85B after $6.43B Binance hack attributed to TraderTraitor
CIE News ·
Update to UPDATE: Binance hot wallets hit in $6.3B exploit as hacker swaps $325M before freezes
Based on on-chain data and security researchers' analysis; not yet confirmed by the affected parties.
Forensic reports show centralized issuers have frozen $2.85B of the $6.43B stolen from Binance by North Korea's TraderTraitor group, as the attacker attempts to swap remaining USDT into ether.
Centralized stablecoin issuers have frozen approximately $2.85 billion in illicit tokens following the $6.43 billion theft from Binance, according to forensic reports from Elliptic and TRM Labs on October 31, 2026. As previously reported, issuers had initial blacklists totaling $2.67 billion following the breach. The newly confirmed figure represents roughly 44% of the total assets taken, with freezes enforced by Tether, Circle, Ripple, and World Liberty Financial.
Blockchain analytics firms, including Chainalysis and TRM Labs, attributed the intrusion to North Korea's state-sponsored TraderTraitor hacking group. While centralized controls have restricted a substantial portion of the stolen funds, the perpetrator is actively attempting to bypass further blacklists by swapping remaining Tether (USDT) balances directly into spot Ether (ETH).
Key facts
- $2.85B frozen
- $6.43B total stolen
- TraderTraitor attributed
- Swapping USDT into ETH
Read the original at trmlabs.com