Hackers who stole $6.3 billion from Binance lost approximately $119 million by exchanging their crypto assets at unfavorable prices to move the funds before they could be frozen. The rushed transactions created arbitrage opportunities that trading firms and automated trading systems captured in nearly $60 million in profits after costs. Ethereum validators received 11,217 ETH, worth almost $29.5 million, while tips paid to block builders surged more than 2,200-fold above the previous night’s level. Competition for blockspace nevertheless drove up fees and caused 10,235 Ethereum transactions to fail, leaving some automated trading systems with losses of several hundred thousand dollars. On Tron, the hackers also paid $22.4 million above market prices to convert 234 million USDT into TRX.
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