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Analytics firm Chainalysis (a company that tracks coin movements on the blockchain and works with exchanges and regulators) has traced the Binance hack: the attacker managed to convert about $325M into other assets to bypass blockades. In parallel, roughly $2.8B has been frozen in connection with the incident.
Binance co-CEO Richard Teng stated that no traces of a private key leak (secret access codes to wallets) were found. At the same time, 11 keys of the exchange's hot wallets (wallets connected to the network for fast payouts) signed transfers to the attacker's address. Withdrawals from the exchange are still halted.
Binance co-founder Yi He said withdrawals will begin to resume within 48 hours. The exchange halted withdrawals overnight after the attack, which it estimates caused $6.3 billion in damage, and promises to cover all user losses.
