Binance hack: the attacker is selling its AVAX right now and turning it into ETH within minutes, through Circle's own bridge.
Since 11:41 UTC it sold 1,608,876 AVAX for 12.80M USDC in 6 batches. Each batch crossed to Ethereum on Circle's bridge in under 18 seconds and was swapped into ETH less than 5 minutes after it landed. 5,697 ETH so far.
Yesterday Circle froze 1.56M USDC on this same route 4 minutes after it landed. None of today's wallets is frozen. 0.44M AVAX are still waiting, now on t...
Coinbase converts EU retail users' USDT, PYUSD, DAI, USD1 and 10 other stablecoins into USDC today, Oct 30. Eight of the 14 that CoinGecko prices add up to about $203B. USDC is about $71B.
Any affected balance left in an EEA retail account gets converted at the market rate, into USDC where Coinbase considers it suitable and into another supported asset where it isn't. Withdrawing to an external wallet before the deadline was the only way to keep the original tokens.
The reason is MiCA, the EU'...