NewsSignals AI analysis·Brave New Coin·
Binance Hacker Moves $96M in Stolen Solana to Bitcoin as Laundering Efforts Continue
Grade Sbearish AI signal$SOL$BTC
The Binance hacker is moving approximately $96 million in stolen Solana toward Bitcoin through Relay Protocol, escalating efforts to launder funds from the $6.3 billion exchange breach.
Lookonchain identified 970,522 SOL in the reported conversion pool, with 486,970 SOL worth approximately $46.4 million already transferred toward Bitcoin; the FBI has attributed the October 29 attack to North Korea's TraderTraitor group.
The cross-chain transfers could intensify regulatory scrutiny and complicate recovery efforts while increasing selling pressure on SOL and concerns surrounding BTC transactions linked to stolen funds.
Bullish strength: 20/100
- Binance has replenished approximately 95% of affected assets.
- Approximately $3 billion in affected assets has been frozen on-chain.
- Binance has resumed withdrawals in phases.
Bearish strength: 80/100
- Approximately 486,970 stolen SOL worth $46.4 million has been moved toward Bitcoin.
- The reported conversion pool contains 970,522 SOL worth approximately $95.9 million.
- Cross-chain transfers complicate efforts to trace and recover stolen cryptocurrency.
- The FBI confirmed North Korean TraderTraitor involvement in the $6.3 billion breach.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.