PeckShield Tracks $3.89M Ledger Theft Funds to Binance Deposits

The notable development here is less the amount than the venue: stolen funds landing at a major exchange create a paper trail that self-custody hops do not, since deposit records can tie an address to an account holder. That said, PeckShield's own caveat about intermediary wallets handling other clients' money is the crux — commingled flows make clean attribution difficult and can implicate parties who were merely passing funds through. Whether Binance acts on the lead, and whether the tainted deposits can be isolated from unrelated client activity, is the open question.