Chainalysis Traces Binance Stolen Funds to Chinese OTC Networks

Chainalysis traced hundreds of thousands of dollars in cryptocurrency stolen from Binance into Chinese laundering networks, including over-the-counter platforms, identifying one route in the hackers’ effort to cash out. The amount reaching those networks is a small fraction of the $6.3 billion theft. Across the wider laundering activity, nearly $1 billion in stolen assets has begun moving into laundering channels. Chainalysis described the China-linked transfers as evidence that hackers are trying to cash out. The firm also tracked about $500 million through TRON, where funds were distributed among more than 1,000 addresses before moving to Ethereum and Bitcoin.

Source: TokenPost