Key facts
- Hacker moved $570 million in ETH to decentralized exchanges.
- Over $2 billion in USDT and USDC frozen by issuers.
- Ripple froze about $200 million in RLUSD.
- Aave froze its V3 markets on Ethereum mainnet.
- Total drained from Binance exceeds $5.5 billion.
The suspected hacker behind the Binance exploit is attempting to launder stolen funds by moving them through decentralized finance protocols. Tens of thousands of ETH were received from Uniswap contracts, and significant amounts of ETH were borrowed on Aave against USDT collateral. Stablecoin issuers Tether and Circle have frozen over $2 billion in USDT and USDC, while Ripple has frozen approximately $200 million in RLUSD. The total value drained from Binance has surpassed $5.5 billion, making it potentially the largest hack in crypto history. ETH, lacking a central issuer, cannot be frozen once converted.