The hackers behind the $6.3 billion Binance breach are using thousands of automated transactions and loops between wallets to obscure the movement of stolen funds. Elliptic estimated that $786 million in stolen stablecoins were converted before assets were frozen, with the attackers sometimes accepting discounts of up to 26% to accelerate their operations. About $434 million in USDT were exchanged for 160,451 ETH on Ethereum, while $234 million in USDT were converted into 638 million TRX through SunSwap. Separately, 18,270 stolen BTC remain distributed across 19 addresses and have not yet reached an identified exchange.
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