Binance hacker moves $46.4 million in SOL, Bitcoin sale claims face scrutiny

A wallet associated with the $6.3 billion Binance breach moved $46.4 million worth of Solana (SOL) on November 1 as SOL traded below $95, sparking speculation about possible conversions into Bitcoin and their potential impact on the token’s price. Blockchain analytics firm Lookonchain observed that addresses linked to the Binance hacker controlled 970,522 SOL, valued at approximately $95.9 million. Within one hour, about 486,970 SOL (worth $46.4 million) was transferred, reportedly utilizing Relay Protocol, a cross-chain swap platform. Mini dictionary: Relay Protocol is a cross-chain service that allows users to transfer assets between different blockchain networks, facilitating interoperability without the need for centralized exchanges. Despite the significant movement of funds, Lookonchain’s data showed that only about half of the hacker’s SOL balance was transferred.

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