$ETH validators captured most of nearly $30 million in trading-related payouts after the $6.3 billion Binance hack, according to a Bitquery investigation dated October 30. ⚡
The report says attackers lost about $119 million through unfavorable trades as they tried to stop stablecoin issuers from freezing the stolen funds.
Trading firms and automated bots moved in on the resulting price gaps, earning roughly $60 million after costs.
Not every bot came out ahead: some paid more in transaction fees than they made from the trades.
The episode shows how attempts to move or protect stolen crypto can create sharp market dislocations and lucrative, but risky, opportunities for arbitrageurs.
#WithdrawalsBack: 15 networks live #ETH #BinanceUpdatesProofofReservesAddresses
The report says attackers lost about $119 million through unfavorable trades as they tried to stop stablecoin issuers from freezing the stolen funds.
Trading firms and automated bots moved in on the resulting price gaps, earning roughly $60 million after costs.
Not every bot came out ahead: some paid more in transaction fees than they made from the trades.
The episode shows how attempts to move or protect stolen crypto can create sharp market dislocations and lucrative, but risky, opportunities for arbitrageurs.
#WithdrawalsBack: 15 networks live #ETH #BinanceUpdatesProofofReservesAddresses
