The Binance thief is swapping stolen solana for bitcoin through Relay, moving about $46 million in an hour

The person or group behind the Binance theft appears to be moving the stolen solana toward bitcoin. Lookonchain, an on-chain analytics account, reported on Sunday, November 1, that the attacker controls 970,522 SOL, valued at about $95.9 million, and is converting it, crypto.news and TokenPost reported. In a single hour, about 486,970 SOL, or roughly $46.4 million, went through Relay Protocol, a cross-chain swap route identified from the transaction paths. About 483,600 SOL was still at the associated address, TokenPost said.

Neither outlet reported how much bitcoin was received or where it ended up. crypto.news said Lookonchain linked the activity to a wallet that the tracker Arkham labels as associated with the Binance hacker, and reported no comment from Relay. The same report said the wallet earlier sold more than 130 altcoins on Ethereum-compatible networks for about 123,400 ETH, worth around $277 million, plus 1.69 million USDC.

The FBI said on October 31 that North Korea's TraderTraitor group was behind the theft and asked exchanges and DeFi services to block related addresses. Binance, which began reopening withdrawals on Sunday, has said it will cover the loss from its own resources.