Binance Hackers Use Thousands of Wallets to Move Stolen Funds

Nov 7, 2026

80 min

Nov 7, 2026 19:30

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

## Massive Cryptocurrency Theft

Hackers responsible for the $6.3 billion theft from Binance have dispersed the stolen cryptocurrency across over 10,000 digital wallets. This strategy was employed to obscure the money trail and complicate recovery efforts.

## Complex Money Movement

The attackers utilized various cryptocurrency services to move the funds, making it difficult for blockchain companies and law enforcement to freeze the assets. A significant portion of the stolen funds was moved through services that facilitate asset exchanges across different blockchain networks.

## Blockchain Analysis

Chainalysis, a blockchain analytics firm, reported that over $46 million in stolen assets were transferred through THORChain within the first 72 hours post-attack. These transactions generated substantial fees for the service operators. Additionally, nearly $4 million was routed through Wasabi Wallet, a service designed to enhance transaction privacy.

## Law Enforcement Challenges

The FBI has urged cryptocurrency service operators to block transactions linked to the theft. However, decentralized systems often lack the centralized control needed to halt specific transactions, complicating enforcement efforts.

## Separate Investigations

A separate analysis by Bitquery traced approximately $333 million of the stolen cryptocurrency, identifying THORChain as a major route. This analysis covered transactions across nine blockchain networks, revealing that a significant amount of the stolen Bitcoin and Ether remains in identifiable wallets.

## Efforts to Freeze Assets

Despite efforts to freeze the stolen cryptocurrency, only about half of the funds have been immobilized. This does not guarantee the return of assets to Binance or their rightful owners. The breach has prompted a global effort to track and restrict the movement of the stolen funds.

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