The North Korean hacking group TraderTraitor is transferring $6.3 billion of stolen funds from Binance via THORChain, converting Ethereum into Bitcoin, which has driven RUNE up nearly 10% in the past 24 hours.
The attackers used the stolen funds to buy ETH through the Ethereum network and then exchanged it for BTC via THORChain. As of November 1, the attackers had exchanged approximately $48.3 million through this protocol, ultimately receiving approximately $42.7 million, with transaction fees and slippage losses amounting to approximately 12%.
The FBI has attributed the October 29 attack on Binance to TraderTraitor and has called on THORChain node operators and crypto service providers to intercept the relevant addresses. Binance has frozen approximately $2.85 billion in stolen funds and replenished about 98% of the affected tokens with company funds. Elliptic believes that the stolen funds are currently still being transferred between different addresses.
