The attacker linked to Binance's $6.3 billion breach moved significant Solana holdings on November 1 as traders debated whether conversions into Bitcoin contributed to downward pressure on SOL prices.
Lookonchain tracked 970,522 SOL valued at approximately $95.9 million under the hacker's control. Within one hour, roughly 486,970 SOL worth $46.4 million moved through transactions reportedly involving Relay Protocol, a cross-chain swapping service. Whale Alert separately recorded a 485,270 SOL transfer worth $46.35 million from an address labeled Binance Hack 2026.
The reported movements covered approximately half of the identified balance. Transfers between wallets and routing through swapping services do not independently prove Bitcoin purchases or reveal final destinations for the assets.
Price Movements Precede November Activity
Solana traded near $94.76 on November 1, declining 0.99% over the previous 24 hours. The more significant context involves an earlier 6.6% decline on October 29, which occurred before the November 1 transfers. This timing complicates claims linking the hacker's activity to SOL's latest downturn.
Ongoing Investigation and Asset Recovery
The FBI attributed the Binance theft to North Korea's TraderTraitor operation on October 31, noting that conversions occurred primarily into Ethereum. The agency warned that decentralized platforms and instant-swap services could facilitate money laundering and urged providers to block identified addresses.
Binance reported that replacements covered approximately 95% of stolen holdings, with withdrawals resuming in phases.
