Crypto · November 6, 2026
Elliptic says Binance hackers swapped stolen tokens for $124M in bitcoin, exchange plans more withdrawal reopenings
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Following the October 29 hack of Binance, blockchain analytics firm Elliptic reports that attackers have begun converting a portion of the stolen assets into Bitcoin.
Read the original coverage
- DecryptCrypto trade press
$3.1B in Stolen Binance Crypto Has Yet to Be Laundered: Elliptic - Decrypt
Read at Decrypt ↗ - Bitcoin MagazineCrypto trade press
Binance Hackers Swap $50M Of Stolen XRP Mostly Into Bitcoin
Read at Bitcoin Magazine ↗ - The BlockCrypto trade press
Elliptic says Binance hackers swapped stolen tokens for $124M in bitcoin, exchange plans more withdrawal reopenings
Read at The Block ↗
Hype check
How the hype check worksConfirmed · 2
Backed by filings, on-chain data, official statements or several independent publishers.
- The FBI attributed the hack to North Korea’s TraderTraitor group (FBI)
- Binance is using its own funds to cover customer losses (Binance)
Claimed · 1
Said by a company, project or person; not yet independently confirmed.
- The hack involved 20,000 wallets on 16 blockchains (Elliptic)
Speculation · 1
Price talk, forecasts or unnamed sources, quoted as someone else's view.
- Very little of the stolen crypto has been successfully cashed out (Elliptic)
Reported by multiple outlets
- Elliptic reports that Binance hackers have begun converting stolen assets into Bitcoin.
- The FBI attributed the hack to North Korea’s TraderTraitor group.
- Binance is covering customer losses from its own funds.
- The hack occurred on October 29.
Reported by only some outlets
- Attackers have used more than 20,000 wallets across 16 blockchains.
- Converted Bitcoin from stolen assets nearly doubled overnight to about 1,650 BTC.
- Stolen XRP was initially sent from five hot wallets between 20:05 and 20:09 UTC on October 29.
Industry-friendly coverage frames it as…
highlight the effectiveness of blockchain analytics in tracking stolen funds and note the resilience of Binance's insurance/coverage funds.
Skeptical / consumer coverage frames it as…
emphasize the vulnerability of major exchanges and the difficulty of preventing large-scale state-sponsored cybercrime.
Numbers that differ
- Total theft value: reported by Binance at $6.34 billion
- Unlaundered amount: reported by Decrypt (Decrypt) at $3.1 billion
- Frozen/Intercepted amount: reported by Bitcoin Magazine (Bitcoin Magazine) and The Block (The Block) at $2.85 billion
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CadNews does not determine absolute truth or endorse political viewpoints. It compares publicly available reporting, identifies shared facts, highlights framing differences, and flags uncertainty.