Binance Hackers Use Thousands of Wallets to Move Stolen Funds

Nov 7, 2026

77 min

Nov 7, 2026 21:30

Binance hackers used over 10,000 wallets to move stolen billions

## Massive Cryptocurrency Theft

A recent investigation has revealed that hackers behind the $6.3 billion Binance cryptocurrency theft utilized over 10,000 digital wallets to disperse the stolen funds. The attackers employed various cryptocurrency services to obscure the money trail, complicating efforts to recover the assets.

## Movement of Stolen Assets

Following the October 29 breach, the hackers divided the stolen cryptocurrency into smaller amounts and transferred them across different blockchain networks. Blockchain analytics firm Chainalysis reported that over $46 million was moved through THORChain within the first 72 hours, generating significant fees for the service operators. Additionally, nearly $4 million was routed through Wasabi Wallet, a service known for enhancing transaction privacy.

## Law Enforcement Challenges

Despite efforts by law enforcement and blockchain companies to freeze the stolen assets, some transactions continued. The FBI has urged cryptocurrency service operators to block transactions linked to the theft, but decentralized services argue they lack centralized control over individual transactions.

## Separate Analysis by Bitquery

Blockchain intelligence firm Bitquery conducted a separate investigation, tracing approximately $333 million of the stolen cryptocurrency. Their analysis identified THORChain as a major route, with about $113 million passing through the service. Bitquery's findings highlight the challenges in tracking and recovering stolen digital assets.

## Efforts to Freeze Stolen Funds

While stablecoin issuers and other organizations have managed to freeze a significant portion of the stolen cryptocurrency, nearly $3 billion remains under the control of the attackers. Freezing assets can prevent further transfers but does not guarantee their return to Binance or rightful owners.

Read the full story at the source

What you need to know to get Emirates ID?

Leave your details and get a guide as a gift to avoid mistakes

Article contents

LinkedIn X Facebook WhatsApp Telegram