Chainalysis: Some funds stolen from Binance flowed into Chinese money laundering networks.

Chainalysis reports that the hackers behind the $6.3 billion Binance theft are transferring some of their assets through Chinese money laundering networks, with hundreds of thousands of dollars already traced flowing into these networks. The hackers have reportedly transferred approximately $500 million through the TRON network, distributing it across more than 1,000 addresses before transferring it to networks such as Ethereum and Bitcoin. Crypto companies have frozen approximately $3 billion in stolen assets, with about $2.42 billion in BTC and ETH remaining virtually untouched since the theft, while the remaining nearly $1 billion has entered money laundering channels. A Binance spokesperson stated that they are cooperating with law enforcement, on-chain analytics companies, and stablecoin issuers to track and freeze the relevant assets. (Source: Bloomberg)