BINANCE HACKER HOLDS 18,270 BTC UNFREEZABLE ON-CHAIN ​​One part of the Binance hack highlights the fundamental difference between Bitcoin and stablecoins. The attacker obtained approximately: 18,270 BTC worth approximately $1.4 billion at the time of the theft. The bitcoin is initially sent from a Binance hot wallet and then split into 19 addresses. Seventeen of these wallets reportedly hold exactly 1,000 BTC each. As of Friday, none of the stolen bitcoins have moved again. Meanwhile, stablecoin issuers were able to freeze billions of dollars worth of USDT, USDC and other centrally controlled tokens linked to the attack. Bitcoin works differently. There is no company, fund or administrator with a blacklist function capable of freezing BTC at the protocol level. Important: This does not make the stolen Bitcoin invisible or impossible to recover. Every transaction remains visible to the public online. Exchanges and custodians can identify suspicious addresses and refuse deposits associated with stolen funds. But no one can press a button and disable those Bitcoin UTXOs. This difference becomes very clear during such an event. Stablecoins can be frozen by issuers. Bitcoin is traceable. But the Bitcoin network itself has no administrator.

BINANCE HACKER HOLDS 18,270 BTC UNFREEZABLE ON-CHAIN ​​One part of the Binance hack highlights the fundamental difference between Bitcoin and stablecoins. The attacker obtained approximately: 18,270 BTC worth approximately $1.4 billion at the time of the theft. The bitcoin is initially sent from a Binance hot wallet and then split into 19 addresses. Seventeen of these wallets reportedly hold exactly 1,000 BTC each. As of Friday, none of the stolen bitcoins have moved again. Meanwhile, stablecoin issuers were able to freeze billions of dollars worth of USDT, USDC and other centrally controlled tokens linked to the attack. Bitcoin works differently. There is no company, fund or administrator with a blacklist function capable of freezing BTC at the protocol level. Important: This does not make the stolen Bitcoin invisible or impossible to recover. Every transaction remains visible to the public online. Exchanges and custodians can identify suspicious addresses and refuse deposits associated with stolen funds. But no one can press a button and disable those Bitcoin UTXOs. This difference becomes very clear during such an event. Stablecoins can be frozen by issuers. Bitcoin is traceable. But the Bitcoin network itself has no administrator.