TRM Labs: about USD 6.4 billion left Binance wallets, laundered via self‑minted tokens and chained cross‑chain bridges
TRM documents active use of self‑minted tokens and chained bridge swaps after October 29; Binance reports ~US$2.85 billion frozen; large remaining balances are moving on TRON and Solana.
- Urgency
- L3
- 73
- 75
- 60
- 70
- 85
At a glance
On November 3, 2026 TRM Labs reported that about USD 6.4 billion left Binance wallets on October 29 and that proceeds not frozen are moving through laundering routes involving self‑minted tokens and chained cross‑chain bridges, with active movement on TRON and Solana. Binance’s November 3 update states approximately US$2.85 billion of the impacted assets have been frozen or intercepted to date.
- TRM documents active use of self‑minted tokens and chained bridge swaps after October 29; Binance reports ~US$2.85 billion frozen; large remaining balances are moving on TRON and Solana.
CHRONOS Wire · November 4 · Alert 8
What happened
On November 3, blockchain intelligence firm TRM reported that about USD 6.4 billion left Binance wallets on October 29 and that the parts not frozen are moving through newer laundering routes, including self‑minted tokens and chained cross‑chain bridges. Binance separately reported about US$2.85 billion of the impacted assets have been frozen. TRM says active movement is concentrated on TRON and Solana.
Why it matters
Substantial balances remain mobile on TRON and Solana using techniques TRM says are newly observed, increasing the window for potential cash‑out unless bridge and venue operators coordinate further freezes or interventions.
CHRONOS Bottom Line
TRM documents the use of self‑minted tokens and chained bridges in post‑exploit laundering flows and reports active movement on TRON and Solana; Binance reports roughly US$2.85 billion of the impacted assets frozen, leaving substantial balances still mobile.
Full detail
What changed
TRM published new on‑chain tracing on November 3 documenting that funds leaving Binance on October 29 are being routed through self‑minted tokens and chained cross‑chain bridges, and that active movements are concentrated on TRON and Solana; Binance’s November 3 update quantifies approximately US$2.85 billion frozen or intercepted so far.
What is genuinely new
TRM published new on‑chain tracing showing attackers are using self‑minted tokens and chained cross‑chain bridge swaps after the October 29 outflow, and that the largest unfrozen holdings are moving on TRON and Solana.
Detailed analysis
TRM’s November 3 analysis states about USD 6.4 billion left Binance wallets on October 29 and documents laundering routes using self‑minted tokens and chained cross‑chain bridges, with active movement concentrated on TRON and Solana. Binance’s November 3 update reports approximately US$2.85 billion frozen or intercepted to date. TRM notes the main Ethereum and Bitcoin balances showed no new relevant activity as of November 3.
U.S. Impact
U.S. Impact assessment pending.