Binance CEO reveals untraceable assets from recent hack. Efforts underway to recover funds. Collaboration with research institutions for tracking.
Ben Zhou, the CEO of Binance, stated that 27.6% of the assets stolen in the March attack are now untraceable. Meanwhile, 84.5% of the stolen Ethereum has been converted to Bitcoin. Criminals used tools like mixers, Tornado Cash platform, and unregulated exchanges to launder a significant portion of the assets into untraceable wallets. Only 3.8% of the assets have been frozen so far in the largest digital currency heist totaling $1.5 billion. The attack is attributed to the Lazarus group from North Korea, who planted malicious code by infiltrating the system of a Safewallet developer. Binance, in collaboration with international research institutions and offering rewards for tracking the funds, is striving to recover the assets.
