Binance hacker sold 499 billion SHIB among 130+ dumped altcoins. SHIB absorbed selling pressure despite market fears and sharp volatility. Binance replenished 95% of affected assets and conti
Few traders expected Shiba Inu to stay calm after a massive token dump. News broke that the Binance hacker sold nearly 500 billion SHIB, adding fresh pressure to an already nervous market. Such a large liquidation often sparks fear and sharp declines. Instead, SHIB showed surprising resilience. While the broader market reacted to the breach, Shiba Inu absorbed the selling activity far better than many expected.
https://twitter.com/Cointurknews/status/2117062528001880273?a=t-URjDzY6zEq_PVJOvU&s=19According to blockchain analytics platform Lookonchain, the Binance hacker has been aggressively selling stolen assets. The attacker reportedly dumped more than 130 altcoins across EVM chains. Those transactions generated around $279 million in proceeds. Among the affected assets, Shiba Inu ranked among the most notable. Lookonchain reported that the hacker sold 499,926,072,560 SHIB. That sale yielded 873 ETH, worth roughly $1.96 million.
The broader operation involved much larger sums. Data shared by Lookonchain showed the attacker received 123,400 ETH, valued at $277.26 million. Another $1.69 million came through USDC. Combined proceeds reached approximately $279 million. The security breach itself stunned the crypto industry. Binance disclosed that the incident affected about $6.3 billion in assets. That figure makes the event the largest crypto theft on record.
Early findings pointed toward a compromised DevOps engineer's laptop. Investigators believe that breach provided access to a service container. From there, unauthorized withdrawal transactions were submitted. The attacker has not stopped moving funds. Recent reports indicate that 970,522 SOL, worth about $95.9 million, is being swapped for Bitcoin.
Despite the enormous SHIB liquidation, market damage remained limited. The stolen amount represented only 0.05% of Shiba Inu's total supply. That relatively small percentage helped cushion the impact. SHIB initially dropped alongside the wider crypto market. Following news of the hack, the token fell to $0.00000446 on October 29. Buyers quickly returned, supporting a strong rebound. Shiba Inu still finished October with an 18.92% monthly loss.
Even so, recovery momentum appeared shortly afterward. On November 1, SHIB traded between $0.00000466 and $0.00000472. At the time of reporting, SHIB changed hands at roughly $0.00000469. The token slipped 0.04% during the previous 24 hours. Weekly performance showed a decline of 3.14%. Meanwhile, Binance continues working to restore affected holdings. The exchange says around 95% of impacted assets have been replenished.
Management also reaffirmed a commitment to cover financial losses linked to the theft. Binance plans to keep purchasing remaining affected tokens through market and over-the-counter channels. Those efforts will continue until full coverage reaches 100%. For SHIB holders, that response has helped reinforce confidence during a turbulent chapter for digital assets.
