Binance Hacker Keeps Swapping Stolen SOL, Now Routing It Into Bitcoin
The Binance hacker is still converting stolen SOL into Bitcoin, per on-chain tracker Lookonchain. The new route sells SOL for USDC, bridges it to Ethereum for ETH, then swaps into BTC via THORChain — a multi-chain detour designed to move funds across networks.
The Binance hacker isn't done moving money. Stolen SOL is still being flipped into Bitcoin, according to on-chain tracker Lookonchain, which flagged the activity as ongoing today.
The route has changed, though. Instead of a straight swap, the funds now take a detour: SOL gets sold for USDC, that USDC is bridged over to Ethereum and swapped for ETH, and the ETH is finally converted into BTC through THORChain.
That's a four-asset, multi-chain hop — Solana to stablecoin, stablecoin to Ethereum, Ethereum to Bitcoin — with each leg landing on a different network.
THORChain is a decentralized cross-chain swap protocol that lets users trade native assets without handing them to a centralized exchange. It has become a familiar stop for funds that traders want to move across chains.
Lookonchain is the source for the latest movements, and its read is that the swaps are continuing rather than winding down. Paparazzi will keep watching where the BTC ends up.
TopicsBinance · Lookonchain · SOL · USDC · Ethereum · BTC · THORChain
Source: x.com
Written by Paparazzi with AI. Not financial advice.
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