According to The Block, hackers who stole tokens from Binance have converted some of the stolen assets into approximately $124 million worth of bitcoin. Elliptic stated that little of the stolen cryptocurrency has been cashed out to date. The organization also confirmed that $2.85 billion in crypto assets remain frozen. Binance indicated it is considering reopening some withdrawal options for affected users. No further details were provided regarding timing, scope, or user eligibility for withdrawals. Elliptic’s assessment is based on available blockchain analysis up to the reported timeframe. The exchange’s plan to reopen withdrawals reflects ongoing efforts to balance user access with security and investigation priorities.
