Other▼ Bearish

North Korea Moves Binance Hack Funds Through Thousands of Wallets as Recovery Rises

TradingGain Newsroom·1h ago·02 Nov 2026, 18:46 UTC

About $2.85 billion of the $6.43 billion stolen from Binance has been frozen or seized, far more than the roughly 3% recovered in the Bybit hack. North Korea is reportedly laundering the rest through an automated system spread across 12,000 wallets. For traders, the scale of recovery and laundering shows how exchange hacks can affect market confidence.

Why it matters

Much more of the Binance loot has been frozen or seized than in the Bybit hack.
The laundering runs automatically across 12,000 wallets, which makes tracing funds harder.
Large exchange hacks can hurt trust in platforms and add pressure on related crypto prices.

What to watch next

Watch for further freezes or seizures of the stolen Binance funds, and any security or regulatory response from exchanges.

This brief is written by TradingGain from public reporting by Decrypt.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.