Binance Hackers Begin Swapping $46.4 Million in Stolen Solana Into Bitcoin
JH Kim
Summary
- According to on-chain analytics firm Lookonchain, hackers tied to the Binance breach have begun converting about $46.4 million worth of stolen Solana (SOL) into Bitcoin (BTC).
- The hackers are swapping the stolen SOL for BTC through cross-chain service Relay as they move the assets.
- The SOL targeted for conversion was valued at about $46.4 million, though it was not clear whether the full amount had been converted.
Forecast Trend Report by Period
Hackers linked to the Binance breach have begun converting about $46.4 million worth of stolen Solana into Bitcoin.
On-chain analytics firm Lookonchain said on Nov. 2 that the hackers had started swapping the stolen SOL for Bitcoin through cross-chain service Relay.
The SOL earmarked for conversion was valued at about $46.4 million.
Lookonchain said the hackers were using Relay for the asset swap. It was not clear whether the full amount had been converted.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.