Hackers just turned ~$124M of stolen altcoins into $BTC — and almost none of it has been cashed out.
Elliptic says the group behind Binance's ~$6.3B Oct 29 breach ran more than 65,000 transactions across 20,000+ wallets and 16 chains. On top of the ~$1.48B in bitcoin taken directly, they swapped another ~$124M of stolen alts into BTC. About $2.85B of the haul is frozen. Cash-out so far: "negligible."
While that laundry ran, spot $BTC sat near $75.7K (24h range ~$75.6K–$76.2K) and $BNB held ~$695. Price looks calm. Flow under the surface is not.
Binance also said it aims to reopen withdrawals for HYPE, INJ, APT, PLASMA, NEAR, and LTC by the end of next week, plus remaining tokens on networks already restored.
My take: frozen funds and a BTC-heavy exit path matter more for traders than another headline. Watch whether those withdrawal routes actually open on schedule — that is the next confidence check.
Would you treat the reopen as a buy signal for those tokens, or wait for proof of clean exits first?
$BTC $BNB
#BinanceSquare #BTC #CryptoNews #Binance #Elliptic
Not financial advice.
Elliptic says the group behind Binance's ~$6.3B Oct 29 breach ran more than 65,000 transactions across 20,000+ wallets and 16 chains. On top of the ~$1.48B in bitcoin taken directly, they swapped another ~$124M of stolen alts into BTC. About $2.85B of the haul is frozen. Cash-out so far: "negligible."
While that laundry ran, spot $BTC sat near $75.7K (24h range ~$75.6K–$76.2K) and $BNB held ~$695. Price looks calm. Flow under the surface is not.
Binance also said it aims to reopen withdrawals for HYPE, INJ, APT, PLASMA, NEAR, and LTC by the end of next week, plus remaining tokens on networks already restored.
My take: frozen funds and a BTC-heavy exit path matter more for traders than another headline. Watch whether those withdrawal routes actually open on schedule — that is the next confidence check.
Would you treat the reopen as a buy signal for those tokens, or wait for proof of clean exits first?
$BTC $BNB
#BinanceSquare #BTC #CryptoNews #Binance #Elliptic
Not financial advice.