Binance hacker shifts stolen Solana through Privacy Cash

Blockchain monitoring firm Onchain Lens identified the transaction on November 3, noting that several additional wallets are exhibiting similar behavior. The activity follows an extensive investigation by Elliptic, which traced roughly 87,000 SOL—valued at $8 million—leaving the original theft wallet. These funds have been routed through liquid-staking services and Bitcoin privacy transactions via CoinJoin to obfuscate their origin.

While the laundering continues, Binance co-CEO Richard Teng reported that the exchange has replaced 98% of the affected customer assets. This replenishment effort relies on internal capital to cover balances, distinct from the recovery of the stolen funds themselves, which remain largely in the hands of the attackers. With roughly $3.18 billion still tied to theft-linked addresses, security experts warn that the breach highlights systemic vulnerabilities in human-centric social engineering. Mercuryo executive Ashna Vaghela emphasized that the attackers utilized fake recruitment schemes and internal AI tools to bypass security, proving that technical defenses must be paired with rigorous, real-time monitoring of internal system access.