TREE NEWS reports: The hacker behind the Binance exploit is converting 970,522 stolen SOL, worth about $95.9 million, into BTC, on-chain data from Lookonchain shows. In the past hour, 486,970 SOL (roughly $46.4 million) was moved out and swapped for BTC via Relay Protocol. Arkham data shows the hacker’s address still holds about 483,600 SOL, valued at around $46.14 million.
Binance Hacker Swaps 970,522 Stolen SOL for BTC
The scale of this conversion is the signal: nearly a million SOL routed through Relay Protocol in staged tranches suggests deliberate laundering rather than a one-off dump, and splitting the flow into BTC complicates tracing across chains. The remaining SOL balance means the operation is only half done, so the market exposure is not over. What matters for RWA and broader crypto watchers is whether Relay Protocol and similar swap routes face scrutiny over facilitating movement of tainted assets, and whether the rest of the stash follows the same path.
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