The hacker behind the Binance security breach continues buying Bitcoin with the stolen funds, according to Lookonchain’s analysis published on November 4. The attacker is converting SOL into USDC, transferring the USDC from Solana to Ethereum, buying ETH and then exchanging it for BTC through THORChain. On November 1, the hacker attempted to convert approximately 970,522 SOL, worth about $95.9 million at the time, into Bitcoin, including a transaction involving 486,970 SOL, or roughly $46.4 million, in a single hour. Binance says it has frozen or intercepted about $2.85 billion of the $6.34 billion in assets affected by the attack. The FBI attributes the operation to TraderTraitor, a North Korean state-sponsored hacker group, but the stolen funds continue moving across decentralized networks.
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