Binance Hackers Launder 81% of Stolen Solana Through THORChain

Hackers behind the attack on global cryptocurrency exchange Binance have begun laundering a large share of the stolen Solana tokens.

Cointelegraph reported on November 4, citing data from blockchain analytics firm Arkham, that the hackers had moved about 81% of the stolen Solana from the original holding wallet. Wallets linked to the hackers now hold about 182,443 SOL, or roughly 18.8% of the total 970,522 SOL stolen.

Blockchain analytics firm Lookonchain said the hackers split the Solana across multiple wallets before converting it into USD Coin. They then moved the USDC to the Ethereum network, bought Ether, and used crypto mixer THORChain to convert the funds into Bitcoin, according to Lookonchain.

The Federal Bureau of Investigation identified North Korea-linked hacking group TraderTraitor as being behind the Binance attack late last month. The agency also urged THORNode operators and decentralized finance services to block transactions tied to funds stolen from Binance.