Binance Hacker Holds More Bitcoin Than Coinbase Treasury

The attackers responsible for the breach at Binance held 18,270 Bitcoin units as of last Friday. This amount exceeds the corporate balance of the Coinbase exchange, which reported 18,071 BTC in its investment and operating accounts through the end of September.

Tracking data shows the assets are distributed across 19 distinct addresses. The bulk of the volume, totaling 17,000 BTC, is split into 17 wallets containing 1,000 units each. The remaining funds are held in two other addresses linked to the criminal operation.

In addition to Bitcoin, the group accumulated over 500,000 units of Ether. This stockpile was formed from the initial theft and subsequent exchanges involving stablecoins and other digital tokens. Binance confirmed that the total losses from the attack reached $6.3 billion.

Investigations identify the TraderTraitor group, linked to North Korea, as responsible for the breach. The exchange reported that approximately $3 billion in assets have been frozen so far. The company promised to fully cover the losses suffered by users following the security failure.

The volume of assets under the control of malicious actors raises the perception of systemic risk in the crypto market. Large movements of stolen funds could generate additional volatility and pressure liquidity on centralized exchanges.