Elliptic finds no evidence of AI in laundering of stolen Binance funds
Elliptic finds no AI evidence in Binance hack laundering
Blockchain analytics firm Elliptic, a company that studies blockchain transaction data, said it found no evidence that artificial intelligence directed the laundering of funds stolen in the $6.4 billion Binance hack. The activity looked like human-supervised scripts rather than AI agents making decisions, the firm said.
The Federal Bureau of Investigation confirmed the Oct. 29 theft was carried out by North Korea's TraderTraitor hacking group. The hackers used about 20 automated services to move stolen funds in less than three days.
Key facts from the investigation
- $6.4 billion was stolen from Binance on Oct. 29.
- The FBI blamed North Korea's TraderTraitor hacking group.
- About 20 automated services moved the funds in less than three days.
- $2.85 billion, or 44 percent of the stolen funds, has been frozen or seized.
- Hackers still control about $3.28 billion across more than 950 wallets, which are digital tools used to hold cryptocurrency.
- Elliptic found no evidence that AI agents made decisions about where to move the money.
What the blockchain firm found
Elliptic co-founder and chief scientist Tom Robinson said the laundering is automated, but nothing observed shows an AI agent making decisions. The pattern fits scripts written and supervised by people.
AI agents can change course without someone directing every step, such as finding another exchange or bridge when a transaction fails. Elliptic said it has not seen that behavior in the Binance transactions.
The hackers reused the same transaction amounts and tested new routes with small transfers before moving larger sums. Six cross-chain bridges, which move cryptocurrency between different blockchains, were first used within a 100-minute period on Oct. 30. Elliptic said the evidence does not establish whether humans or AI systems selected those services.
Where the stolen funds stand
About $2.85 billion, or 44 percent of the stolen funds, has been frozen or seized. Hackers still control about $3.28 billion spread across more than 950 wallets.
Most of the remaining assets are held in bitcoin and ether, types of cryptocurrency that a central issuer cannot freeze. Elliptic said a negligible amount appears to have been converted into cash.
The firm also identified about $16 million sent to addresses holding proceeds from September's Bitget exploit. This suggests the same laundering operation may be handling funds from both attacks.
Questions that remain
Elliptic has not ruled out AI involvement entirely. The firm said the transactions it examined could have been carried out by scripts written and monitored by people. Whether humans or AI chose the six cross-chain bridges used on Oct. 30 is still unknown.
Why this matters for crypto security
The findings address questions about whether AI agents are choosing how to move stolen crypto. If AI were involved, it could adapt when transactions fail or wallets are blocked. Elliptic said it has not seen that kind of behavior in the Binance transactions.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.