Binance Hackers Created a Token to Trade With Themselves

1 hour ago 5

Rommie Analytics

Key Takeaways

  • The attackers traded the new token with themselves.
  • Lending receipts hid the link from USDT traces.
  • TRM matched 11 of 38 bridge orders.
  • Freezes need a wallet to land on.

TRM Labs described the routes in a November 3 update covering October 31 to November 2, the period when bridges and new TRON methods first appeared in its trace.

About $6.36 billion left Binance wallets across ten blockchains on October 29, according to TRM. The FBI attributed the theft to North Korea on October 31, naming the activity TraderTraitor, the same designation it used for the $1.5 billion Bybit theft in February 2025.

Issuers and networks moved quickly. Tether, Circle, Ripple, World Liberty Financial and the Arbitrum Security Council froze nearly $2.7 billion within hours. TRM estimates the attacker still holds about $2.4 billion in ETH and BTC, and those main balances showed no new activity as ...

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