Binance Hack: The Attacker Dumped $158 Million of Altcoins…
By Tobi Opeyemi Amure
AI summary of the source article
The Binance hack attacker sold seven altcoins for $158.25 million into 70,480 ETH. Roughly $2.86 billion remains under the attacker's control, while about $2.69 billion has been frozen by issuers and entities.
Why it matters
Only $23 million of altcoins is left, so Binance hack selling pressure on UNI, ENA, PEPE, LINK, AAVE, ONDO and WLD is largely spent, and the overhang moves to the majors.
Key facts
- The attacker sold seven altcoins for $158.25 million, converting the proceeds into 70,480 ETH.
- About $2.69 billion in assets was frozen by Tether, Circle, Ripple, World Liberty Financial, and the Arbitrum Security Council, leaving $2.86 billion under attacker control.
- Binance pledged to cover user losses in full and expects withdrawals to resume within 48 hours of 04:17 UTC.
Source excerpt · FinanceFeeds
The Binance hack attacker has sold seven altcoins for a combined $158.25 million and converted the proceeds into 70,480 ETH, according to on-chain analytics firm Lookonchain, leaving about $23 million of altcoins in wallets that issuers cannot touch. That leaves a Binance hack balance sheet of roughly $2.86 billion still under the attacker’s control, against about $2.69 billion frozen by Tether, C…