A post by @lookonchain on X.
The Binance hacker continues to swap $SOL for $BTC!
@lookonchain on X
Not investment advice. Muhabbit scores how much a story may matter, not which way to trade.
The Binance hacker is continuing to rotate stolen funds out of Solana and into Bitcoin, splitting SOL across multiple wallets before selling it for USDC, bridging the stablecoin to Ethereum, and converting it to ETH. The ETH is then swapped for BTC via THORChain, extending a laundering pattern that has already moved significant value across three major chains. This matters because the steady SOL-to-BTC conversion adds persistent sell pressure on Solana while routing volume through THORChain’s cross-chain liquidity. Traders should watch the hacker’s wallet clusters for further tranches of SOL sales and any shift in destination assets or bridges.
Muhabbit's AI wrote this summary of @lookonchain's post in its own words. It can get details wrong, so read the post on X.
Named in this story
Binance, BTC (BTC), SOL (SOL), Lookonchain, THORChain (RUNE)
A linked name opens that asset's sentiment page.