Binance hacker converts $95.9M in stolen SOL to BTC via Relay Protocol.
Security & Exploits ·
A wallet linked to a recent Binance breach has converted 970,522 SOL (valued at $95.9M) to Bitcoin using Relay Protocol, a cross-chain bridge. The transaction represents a significant movement of stolen funds out of their original asset denomination, with reports indicating that $46.4M of the total was swapped within a single hour.
Relay Protocol facilitates token exchanges across multiple blockchain networks. The choice of this mechanism suggests an attempt to obscure the funds' origin and complicate recovery efforts by distributing assets across different chains. The speed and scale of the conversion indicate coordinated execution rather than gradual dispersal.
It remains unclear whether additional stolen assets are held in other denominations, what the attacker's next steps may be, or whether blockchain surveillance and exchange monitoring have identified subsequent movement of the converted Bitcoin. The timing and method of the swap provide limited information about the attacker's operational sophistication or access to additional infrastructure.