Binance hackers begin swapping stolen Solana tokens for Bitcoin: Chainalysis

The hackers behind Binance’s $6.3 billion theft have begun converting stolen Solana tokens into Bitcoin after largely emptying the wallets used to launder funds on Tron, according to blockchain investigators.

Lookonchain reported Sunday that the hackers had moved 486,970 Solana (SOL) tokens, worth about $46.4 million, and were swapping them for Bitcoin (BTC) through Relay.

The activity involves funds that escaped the freezes imposed after Thursday’s theft, the largest in cryptocurrency history. Industry partners, including Tether and Circle, froze about $3 billion in stolen assets, while investigator SomaXBT estimated the attackers still controlled about $3.5 billion.

Binance said the attack compromised its hot wallets, with early findings pointing to a hacked employee laptop before investigators identified additional breach points. The exchange began restoring withdrawals Sunday, pledged to cover the losses and has been working with US authorities to trace and recover the stolen assets.

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Chainalysis said Sunday that most of the hackers’ temporary holding wallets on Tron had been emptied as laundering activity expanded to Solana. It put the value of the Tron transfers at about $500 million.