128.6 Million Ethena Tokens Sent to Binance, Possibly to Help Cover Hack Losses
Summary
- Ethena said 128.6 million ENA worth $24.33 million was moved from a wallet tied to the project to Binance.
- The deposit amounts to about 59% of the 217.5 million ENA stolen in the hack, raising the possibility that it was an over-the-counter transaction to help cover the losses.
- Binance said it secured $6.34 billion in company funds to fully compensate users, with $5 billion held in the same type of tokens and the rest covered through market purchases and over-the-counter buying.
Forecast Trend Report by Period
A wallet tied to Ethena transferred 128.6 million ENA worth $24.33 million to cryptocurrency exchange Binance, raising the possibility that the tokens were part of an over-the-counter deal to help cover losses from the hack.
On-chain data dated October 30 showed that the address labeled as an Ethena wallet, "0xB805…E890936," deposited 128.6 million ENA into Binance over the past two hours.
Binance had previously lost 217.5 million ENA in the hack. The attacker sold the tokens for about $33.93 million. The latest deposit is equal to about 59% of the stolen ENA.
Binance has said it secured more than $6.34 billion in company funds to fully compensate users for their losses. Of that amount, $5 billion is held in the same type of tokens as the stolen assets, while the rest is being bought in the market and through over-the-counter trades.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀