Binance Theft Suspects Shift XRP and Bitcoin as $3.1B Stays Put

Blockchain analytics firm Elliptic estimates that approximately $3.1 billion of the assets taken in the reported $6.43 billion Binance hack remains in wallets associated with the October attack more than a week later. Bitcoin.com, Crypto Economy and Decrypt all describe the largest concentration of remaining funds as largely unmoved, although activity involving the stolen holdings has begun. Crypto Economy’s more precise figure places the residual amount at $3.11 billion.

Bitcoin.com reports that the attackers have started moving stolen XRP and converting additional cryptocurrency into bitcoin. That activity follows the initial theft but has not yet displaced the bulk of the identified bitcoin and ether, according to the coverage. The broader transfer network identified by Elliptic comprises more than 20,000 wallets spread across 16 blockchains; Crypto Economy also counts 36 services involved in moving the funds.

The scale of the identified infrastructure contrasts with the limited movement of the largest holdings. Bitcoin.com and Decrypt both highlight that the bulk of the stolen bitcoin and ether remains where it was identified, while Bitcoin.com notes that some XRP and other cryptocurrencies are now changing hands or being converted into bitcoin. Crypto Economy reports that approximately $2.85 billion has been frozen or seized, providing a measure of the portion that has already been restricted.

These findings connect the October attack to a continuing distribution effort rather than a completed dispersal of the stolen assets. The wallets, blockchains and services mapped by Elliptic show how the holdings have been routed through multiple parts of the crypto infrastructure. At the same time, the approximately $3.1 billion that remains largely untouched represents the central part of the holdings still exposed to transfers, conversions or additional recovery efforts.

Live market data show bitcoin at $75,718, down 0.39% over 24 hours and 1.75% over seven days, while XRP is at $1.18, down 3.93% over 24 hours and 4.74% over seven days. Bitcoin’s market capitalization stands at $1.52 trillion and XRP’s at $75.23 billion, against a total crypto market capitalization of $2.61 trillion. The overall market is flat, and the Fear & Greed index is at 28, indicating a Fear reading. The next points to monitor are whether the remaining bitcoin, ether and XRP holdings move, whether conversions into bitcoin accelerate, and whether additional freezes or seizures affect the mapped wallets and services.