Chainalysis uncovered thousands of suspected automated transfers, while Elliptic traced $786 million in stolen stablecoins converted into other cryptocurrencies.
Hackers behind Binance's $6.3 billion breach are using previously unseen laundering tactics while rapidly converting stolen assets into other cryptocurrencies.
On Oct. 30, blockchain analytics firm Chainalysis said that investigators identified thousands of transactions executed within short periods, suggesting the attackers used automation to obscure the movement of stolen funds.
The discovery comes as Elliptic reported that the hackers had converted approximately $786 million in stolen stablecoins into Ethereum and Tron before asset freezes took effect, sometimes accepting significant losses to complete transactions quickly.
According to Chainalysis, the attackers have adopted unusual transaction patterns that repeatedly circulate stolen assets among interconnected cryptocurrency addresses.
The funds sometimes return to wallets involved earlier in the laundering sequence, creating complicated transaction histories.
The firm described these movements as “laundering patterns we have not seen before,” pointing to their speed and repetitive nature as evidence of suspected automation.
Investigators also identified a distinctive pattern on the Tron blockchain, where numerous wallets received exactly 1 TRX before accepting additional funds and forwarding them to other addresses.
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The repeated sequence suggests that the attackers are using programmed instructions to coordinate movements across numerous wallets.
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