TREE NEWS update: Hackers behind the $6.3 billion Binance theft have begun converting stolen Solana tokens into Bitcoin, Chainalysis said. Crypto exchange Gate said it froze two linked accounts as US investigators urged platforms to block transactions tied to the theft. The movement of funds marks a new phase in the laundering of the proceeds from the record heist.
Binance Hackers Begin Swapping Stolen Solana Tokens for Bitcoin: Chainalysis
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AI take
The shift from Solana tokens into Bitcoin signals that the launderers are moving past the initial holding phase and into asset conversion, a step that typically widens the trail across chains and jurisdictions. Gate's freeze shows exchanges are now active chokepoints, but two accounts is a narrow response against a record haul, and the pressure from US investigators makes platform compliance the real variable. Whether other venues follow Gate's lead, and how quickly converted Bitcoin is layered further, is the open question worth watching.
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