Binance hacker moves $46.4M in SOL to BTC via RelayProtocol, converting roughly half of stolen 970K SOL stash.
Security & Exploits ·
An individual tied to a Binance security breach moved approximately 487,000 SOL worth $46.4 million into Bitcoin through RelayProtocol, according to tracking by blockchain analysts. This conversion represents roughly half of a larger stolen SOL cache estimated at 970,000 tokens, suggesting an ongoing effort to liquidate the breach proceeds.
The transaction exemplifies a common money-laundering pattern in cryptocurrency: converting stolen assets across different blockchain tokens and systems to obscure their illicit origin. Cross-chain bridges and atomic swap protocols like RelayProtocol enable rapid layering—obscuring transaction trails through token swaps and chain-hopping—in ways that traditional banking systems cannot match in speed or scale. The hacker classification reflects the criminal nature of the Binance breach funds.
Whether additional portions of the 970,000 SOL stash remain unconverted, and which wallets or addresses currently hold or will receive the Bitcoin proceeds, remain unclear. Binance's response timeline and any coordination with law enforcement or blockchain forensics firms to track or freeze remaining funds have not been detailed in available reporting.