Binance hacker shifts $46M in stolen Solana toward Bitcoin

The movement of Solana represents roughly half of the 970,522 SOL—valued at $95.9 million—currently held by the address. This latest shift follows a massive sell-off involving over 130 altcoins across Ethereum-compatible networks, which netted approximately $279 million in ETH and USDC. Analytics firm Lookonchain noted that while some liquidations, such as the sale of 908,793 PROM tokens, resulted in negligible returns due to low liquidity, the attacker continues to successfully move significant capital through decentralized swap infrastructure.

Authorities remain on high alert following an October 31 FBI attribution linking the Binance hack to North Korea’s TraderTraitor operation. The bureau has urged exchanges and DeFi providers to block identified addresses, though the attacker continues to leverage cross-chain tools to obscure the trail. While Binance has begun restoring customer withdrawals and covering losses through emergency reserves, the ongoing conversion of stolen assets into Bitcoin underscores the difficulty of securing funds once they enter the decentralized ecosystem.