Blockchain analytics firm Chainalysis stated on October 30 that the hackers behind the $6.3 billion Binance exploit are employing unprecedented money laundering tactics and rapidly converting stolen assets into other cryptocurrencies. Investigators have identified thousands of transactions executed in a short period, indicating that the attackers are using automation to obscure the flow of funds. A report by Elliptic also noted that the hackers have converted approximately $786 million in stolen stablecoins into Ethereum and Tron, sometimes at significant losses, to expedite transactions and avoid asset freezes. The hackers are also actively exchanging stolen cryptocurrencies through decentralized exchanges, for example, converting approximately 434 million USDT into 160,451 ETH on Ethereum, and about 234 million USDT into 638 million TRX on Tron. These conversions allow the attackers to consolidate assets into native cryptocurrencies that issuers cannot directly freeze. Chainalysis pointed out that these money laundering patterns are characterized by speed and repetition, with funds sometimes returning to wallets involved earlier in the laundering sequence, creating a complex transaction history.