Binance hackers bounce $6.3B through thousands of wallets as funds reach China

The crew behind the $6.3 billion Binance hack is still on the move — and the trail is getting messy. According to Cointelegraph, citing Chainalysis, the stolen crypto is being bounced through thousands of wallets and spread across multiple blockchains. Some of it has already landed in Chinese laundering networks.

Chainalysis, the blockchain analytics firm tracking the flow, says the funds aren't sitting still. They're being split, shuffled and pushed across chains in what amounts to a deliberate attempt to break the paper trail. Thousands of wallets means thousands of hops between the theft and anyone trying to cash out.

The detail that stings: Chinese laundering networks are already in the mix. That's a sign the money isn't just hiding — it's progressing down the pipeline toward outlets that specialize in converting dirty crypto into something spendable.

This is an update, meaning the picture keeps shifting. Chainalysis continues to trace the movement, and the sheer spread of wallets and chains makes the job slower and uglier. For Binance and for anyone watching stolen funds circulate, the story is far from closed.