The attacker behind the $6.3 billion security breach at Binance (@binance) has sold more than 130 altcoins, according to on-chain analytics firm Lookonchain. The sales raised about $279 milli
The attacker behind the $6.3 billion security breach at Binance (@binance) has sold more than 130 altcoins, according to on-chain analytics firm Lookonchain. The sales raised about $279 million in total, and included a large position in Shiba Inu ($SHIB).
Lookonchain said on Nov. 1 that the hacker sold more than 130 altcoins on Ethereum Virtual Machine-based blockchains, securing assets worth about $279 million.The sales yielded 123,400 Ether and 1.69 million USD Coin.The tally covers only transactions confirmed on EVM-based blockchains.
Among the tokens sold was SHIB. The dump included 499,926,072,560 SHIB, sold for 873 ETH, or $1.96 million. Other tokens were also liquidated. According to TechFlow, approximately 7.0188 million UNI were swapped for 17,585 ETH, 217 million ENA for 15,288 ETH, and 77.7 trillion PEPE for 14,049 ETH.
The SHIB sale was small relative to the token's total supply. The 499.9 billion SHIB represented only about 0.05% of the token's supply. The hacker has also moved into other assets. Lookonchain reported the hacker is swapping 970,522 SOL, worth $95.9 million, for BTC.
Shiba Inu saw a sharp selloff on October 29, alongside the wider crypto market, after news of the Binance hack. It hit a low of $0.00000446 on Friday before rebounding sharply.SHIB still finished October with an 18.92% loss.On November 1, SHIB traded between $0.00000466 and $0.00000472.
Binance said it had replaced 90% of the amount stolen after the $6.3 billion hack, which the FBI blamed on North Korea.Binance has since said it has covered about 95% of the hacked assets, and that buying back some thinly traded tokens would take time.The exchange said it will keep buying the remaining token assets through market and over-the-counter channels until coverage reaches 100% for all tokens.
On the cause of the breach, Binance chief Richard Teng described a complex attack involving a compromised laptop and malicious software designed to delete evidence.
Sources:
Bloomingbit: Binance Hacker Sells More Than 130 Altcoins, Raises About $279 MillionU.Today: 499 Billion SHIB Dumped by Binance Hacker, Yet Price Absorbs ItNBC News: FBI Says North Korea Was Behind the $6.3 Billion Binance Crypto Hack
