- Binance hacker converted ~486,970 SOL ($46.4M) to Bitcoin via Relay Protocol within a single hour
- Earlier, 130+ altcoins on Ethereum networks were liquidated, yielding approximately $279M
- One disastrous PROM sale worth ~$5M through Uniswap V2 returned just $71 due to thin liquidity
- On-chain trackers Lookonchain & Arkham Intelligence are monitoring all hacker wallet movements in real time
On-chain intelligence firm Lookonchain tracked rapid fund movements from wallets linked to the Binance hacker on November 1, 2026, revealing a multi-stage conversion strategy across different blockchains.
SOL Converted To Bitcoin Via Relay Protocol
Hacker-linked wallets held 970,522 stolen SOL, valued at approximately $95.9 million. Within just one hour, 486,970 SOL, roughly $46.4 million and about half the total stolen SOL, was moved and converted into Bitcoin via Relay Protocol, a cross-chain bridge identified through transaction path analysis by Arkham Intelligence.
The Binance hacker is swapping the stolen 970,522 $SOL ($95.9M) for $BTC.
In the past hour, the hacker moved 486,970 $SOL ($46.4M) and is now swapping $SOL for $BTC through @RelayProtocol.
https://t.co/2a9Oz59mn0 https://t.co/fSPdkstlxp
— Lookonchain (@lookonchain) November 1, 2026
130+ Altcoins Liquidated For $279M
Prior to the SOL conversions, the attacker systematically sold more than 130 altcoins held across Ethereum-compatible networks. These liquidations yielded approximately 123,400 ETH ($277.26 million) and 1.69 million USDC, bringing the combined proceeds to nearly $279 million.
$5M Trade Backfires, Returns Just $71
The liquidation was not without costly mistakes. A sale of 908,793 PROM tokens, valued at close to $5 million, was executed through a Uniswap V2 liquidity pool.
The Binance hacker made a $5M mistake while dumping altcoins!
The hacker sold 908,793 $PROM (worth ~$5M) into a nearly empty Uniswap V2 liquidity pool and received just 0.0316 $ETH ($71).
https://t.co/3DNdmFjvRp https://t.co/l0llpzyjSi
— Lookonchain (@lookonchain) November 1, 2026
Due to the extremely thin trading volume in that pool, the massive order moved the market catastrophically, returning just 0.0316 ETH, approximately $71, in exchange for the near-$5 million worth of tokens.
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