Binance Hackers Move 81% of Stolen Solana, Laundering Funds Through THORChain
Summary
- Hackers behind the attack on Binance reportedly moved about 81% of the stolen Solana (SOL) from the original wallet as they began a large-scale laundering operation.
- The hackers split the Solana across multiple wallets, swapped it into USDC, routed it through the Ethereum (ETH) network, and then used THORChain to convert it into Bitcoin (BTC), according to blockchain analysts.
- The US Federal Bureau of Investigation (FBI) identified the North Korea-linked group TraderTraitor as being behind the Binance attack and urged THORNode operators and DeFi services to block related transactions.
Forecast Trend Report by Period
Hackers behind the attack on global cryptocurrency exchange Binance have begun a large-scale laundering operation involving stolen Solana (SOL).
Cointelegraph, citing data from blockchain analytics firm Arkham, reported on November 4 that the hackers had moved about 81% of the stolen Solana from the original holding wallet. About 182,443 SOL remains in wallets tied to the hackers, equal to roughly 18.8% of the total stolen amount of 970,522 SOL.
Blockchain analytics firm Lookonchain said the hackers split the Solana across multiple wallets before swapping it into USDC. They then moved the USDC onto the Ethereum network, bought Ether and used the crypto mixer THORChain to convert the funds into Bitcoin, according to Lookonchain.
Meanwhile, the FBI identified the North Korea-linked hacking group TraderTraitor as being behind the Binance attack late last month. The agency also urged THORNode operators and DeFi services to block transactions tied to funds stolen from Binance.
