Binance hacker begins liquidating stolen tokens, dumping PEPE, UNI, and LINK for ETH while still holding $39.5M in ENA.
Macro & Markets ·
An account tracking blockchain transactions has flagged activity from the Binance hacker associated with a major 2023 breach, noting a shift toward liquidating stolen tokens. The attacker has been converting holdings of PEPE, UNI, and LINK into ETH while retaining approximately $39.5M in ENA tokens.
The liquidation pattern suggests the threat actor is moving to consolidate or cash out portions of the stolen asset portfolio. LINK, the token powering Chainlink's decentralized oracle network, has been among the tokens being dumped. The exact timing and scale of each conversion remain unclear from available reports.
It is not yet known whether the ongoing liquidation represents a complete exit strategy, preparation for ransom negotiation, or intermediate portfolio rebalancing. The $39.5M in ENA holdings that remain unchanged may signal selective positioning or simply reflect holdings the attacker has not yet moved to market.