FBI Targets THORChain After $242 Million Laundered from Binance Hack
Written with artificial intelligence.
North Korean hackers have laundered $242 million from the recent $6.3 billion Binance hack using the Tron network. The FBI has issued a list of 628 addresses and has specifically requested THORChain to halt any related transactions.
Overview of the Hack
In the aftermath of the $6.3 billion Binance hack, North Korean hackers have already funneled $242 million through the Tron network. As they convert stolen $SOL into Bitcoin, the FBI has responded by releasing a list of 628 addresses to monitor and has called on THORChain operators to block any transactions linked to these addresses.
Laundering Methodology
As of October 29, approximately $628 million had been sent to Tron, with Tether freezing $378.7 million in USDT. An estimated $249 million remains to be laundered. Within two days, $242 million exited Tron via various bridges and instant exchange services, with THORChain processing $44 million of that total. Currently, $26 million is still on Tron, while $22 million has been lost in fees and price fluctuations.
FBI's Actions and THORChain's Response
The FBI's alert confirms previous findings by TRM Labs and Chainalysis, attributing the hack to TraderTraitor. The agency's request targets THORChain, which has previously been used for laundering funds from other hacks. The co-founder of THORChain has publicly opposed the idea of freezing transactions, citing the protocol's commitment to neutrality.
Current Situation and Victim Compensation
THORChain has suspended trading on 10 of the 13 networks it connects to due to a blockchain reorganization incident. Meanwhile, Binance reports it has covered 95% of the stolen assets through its treasury and insurance funds. The ongoing investigation involves the CFTC and Secret Service, with the remaining 18,327 BTC valued at over $1.4 billion as of November 2 still unaccounted for.