HACK BREAKDOWN: How the $6.3B Binance hack happened and where the money is now
🔥 HACK BREAKDOWN: How the $6.3B Binance hack happened and where the money is now
- About $6.3B was drained from Binance's hot wallets across 10 blockchains in roughly 20 minutes. Reports say it started with a hacked Binance engineer's laptop.
- About $2.7B has been frozen so far, mostly by Tether ($1.77B) and Circle ($825M). Around $2.4B in ETH and BTC is still out of reach.
- The hacker put $60M in USDT on Aave and borrowed about 19,760 ETH against it, swapping stablecoins that can be frozen for ETH that can't.
- ZachXBT reports funds from this hack and the $388M Bitget exploit were mixed at the same address after moving through THORChain, so the same group is likely behind both. Bitget was tied to North Korea's TraderTraitor group.
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