Crypto: Ethereum threatened by a sell-off of 420,000 ETH
Ethereum is facing a threat following the Binance hack. North Korean hackers are believed to hold more than 420,000 ETH, worth close to one billion dollars at prices observed at the end of October. These funds could be resold on the crypto market, while liquidity remains fragile. However, Binance has recovered 95% of the affected assets, and several technical indicators suggest a possible rebound.
Binance hackers controlled more than 420,000 ETH, according to the TRM Labs report dated October 30.
Reduced liquidity and wider price spreads increase the risk of a correction.
Binance announces that it has recovered 95% of the affected assets as of November 1, 2026.
Ethereum under threat from 420,000 ETH
The Binance hack continues to worry crypto investors. Following the historic theft of several billion dollars from the crypto platform, investigators are now monitoring the assets the hackers could resell.
The amount is significant: more than 420,000 ETH, along with 18,270 BTC. Together, these cryptocurrencies were worth around 2.4 billion dollars in our analysis on October 30. Their particular feature is the lack of a central issuer able to block them directly.
The hackers could therefore move them to different crypto wallets, exchange them for other assets, or try to convert them into cash. The October 29 attack affected Binance wallets across ten blockchains. Approximately 6.36 billion dollars was stolen, mostly within about twenty minutes.
TRM Labs attributes the operation to the TraderTraitor group, which is linked to North Korea. The FBI has also identified this North Korean unit as responsible for the theft. For Ethereum, the main concern now is the movement of the funds.
$ETH
$TRMB.US
$FBIZ.US
#ETH
Ethereum is facing a threat following the Binance hack. North Korean hackers are believed to hold more than 420,000 ETH, worth close to one billion dollars at prices observed at the end of October. These funds could be resold on the crypto market, while liquidity remains fragile. However, Binance has recovered 95% of the affected assets, and several technical indicators suggest a possible rebound.
Binance hackers controlled more than 420,000 ETH, according to the TRM Labs report dated October 30.
Reduced liquidity and wider price spreads increase the risk of a correction.
Binance announces that it has recovered 95% of the affected assets as of November 1, 2026.
Ethereum under threat from 420,000 ETH
The Binance hack continues to worry crypto investors. Following the historic theft of several billion dollars from the crypto platform, investigators are now monitoring the assets the hackers could resell.
The amount is significant: more than 420,000 ETH, along with 18,270 BTC. Together, these cryptocurrencies were worth around 2.4 billion dollars in our analysis on October 30. Their particular feature is the lack of a central issuer able to block them directly.
The hackers could therefore move them to different crypto wallets, exchange them for other assets, or try to convert them into cash. The October 29 attack affected Binance wallets across ten blockchains. Approximately 6.36 billion dollars was stolen, mostly within about twenty minutes.
TRM Labs attributes the operation to the TraderTraitor group, which is linked to North Korea. The FBI has also identified this North Korean unit as responsible for the theft. For Ethereum, the main concern now is the movement of the funds.
$ETH
$TRMB.US
$FBIZ.US
#ETH
