Since the October 29 hack of Binance, North Korean hackers have launched a massive movement of funds to conceal the origin of the $6.43 billion stolen. According to Elliptic, around 12,000 wallets across 11 blockchains were used in less than four days for more than 40,000 transactions. The funds are moving between previously used addresses, notably on Tron, before passing through bridges, instant exchange platforms and Bitcoin mixing techniques such as CoinJoin. Chainalysis is tracking these flows with the help of artificial intelligence, while Elliptic estimates that $2.85 billion, or 44% of the proceeds, have been frozen or seized. However, the laundering process could take several years, as seen after the February 2025 Bybit hack, making the recovery of most of the remaining funds uncertain.
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