Stolen Binance Crypto Moves Through THORChain as RUNE Rises 10.6%

Stolen crypto from the Binance incident moved through THORChain as cross-chain swaps resumed and RUNE rose 10.6% in a day.

Stolen SOL was split across multiple wallets before conversion. The tokens were exchanged for USD Coin (USDC), moved to Ethereum and used to buy Ether (ETH), then swapped through THORChain for Bitcoin (BTC). The sequence involved multiple transfers and three token conversions across networks.

A separate round of swaps from Tron routed about $48.3 million through THORChain and yielded about $42.7 million. That flow was separate from the SOL transfers. Binance said it froze about $2.85 billion in funds.

THORChain, a decentralized exchange, paused trading Saturday, Oct. 31, and has since restored cross-chain swaps on most chains.

Simon Yoon

Simon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to [email protected].