Researchers tracking crypto stolen in the Binance attack have spotted fresh movement in wallets tied to the attacker. OnchainLens reported today that about 120 million $TRX, worth around $38.78 million, was transferred and then split across different addresses.
Funds Split Across Wallets
A Tronscan record shared in the post shows the 120 million $TRX transaction completed today at 04:01 Turkish time. The funds moved from an address starting with TL2F4G to a wallet starting with TRBdWq. OnchainLens says the size of the transfer matters, but the route is more telling. Funds were repeatedly split between addresses linked to the attacker through automated transactions. Some amounts went back to wallets used earlier, and then new addresses received funds. The research account described this as a money laundering attempt meant to make tracing harder. Mixers were not yet being used heavily in the observed transfers. For now, the main method was back-and-forth transfers between many wallets.
Earlier Tron and Ethereum Trails
Bitquery examined the attacker’s earlier movements and found a similar distribution chain on Tron. Its October 30 analysis noted that 11.4 million $TRX was withdrawn from a single wallet in more than 30 transactions. Two observed routes sent $TRX through new addresses, converted it to $USDT via SunSwap, and then moved it to two unidentified old wallets. On Ethereum, funds were also gathered at different addresses. The same analysis found 17,260 $ETH moved from the main recipient wallet to a new address on October 30. A total of 14,540 $ETH from four wallets where stolen tokens were sold was consolidated into another address. Another 7,647 $ETH was transferred from the second recipient wallet.
Bitcoin and Conversion Losses
On the Bitcoin side, about 18,270 BTC stolen was spread across 19 addresses. Converting funds into other cryptocurrencies was a large part of the operation. Bitquery determined that roughly $729 million in stolen $USDT was converted into $ETH and $TRX before freezing procedures could be completed. Those hasty trades were costly for the attacker. The investigation found a loss of about $119 million compared with market prices. About $71.5 million came from paying above-market prices for $ETH purchases, $24.8 million from selling stolen tokens at a low price, and $22.4 million from $TRX purchases.
Mistake and Frozen Assets
An error also surfaced during the transfers. Lookonchain reported yesterday that the attacker accidentally sent about $3.32 million worth of altcoins to the contract address of the NEWT token. Those assets are irretrievable, the account said. Binance said in its latest official statement that about $3 billion worth of assets have been frozen on-chain. The new TRX movement suggests the trail is still active. Perhaps the attacker is trying to create noise before another move, though that is only a guess. This is not investment advice.
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