$3.1B of stolen Binance crypto still hasn't been laundered.The attackers have spread across 20,000+ wallets on 16 chains, but the bulk of the stolen ETH and BTC hasn't moved. Security Alliance estimates they had about 8 weeks inside before the $6.3B exploit.
Why I care: that's a loaded gun pointed at the market. When a pile that size starts moving, it goes through bridges, mixers and OTC desks. That's supply hitting the tape.
Other exchanges are nervous too. South Korea's GOPAX just halted trading, deposits and standard withdrawals over a hacking threat and is moving everything to cold storage. Withdrawals are manual only, through support.
What I'm watching: the first big outflow from the hacker wallets, more exchange freezes, and which venues publish real cold-storage numbers. Coinbase says 99%+ offline. Ask yours what theirs is.
Not your keys, not your bananas. Stay sharp, apes.
