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Crypto·1 min read

Binance Hackers Swap Stolen Solana Tokens for Bitcoin, Chainalysis Says

Chainalysis says the attackers behind the $6.3 billion Binance theft have started converting Solana tokens into Bitcoin, while Gate froze two linked accounts.

Illustration of Solana and Bitcoin coins being swapped on a dark background with a padlock symbolizing frozen accounts.
Image: Cointelegraph
SUMODialoediviewer

The hackers behind the $6.3 billion theft tied to Binance have started swapping stolen Solana tokens for Bitcoin, according to blockchain analytics firm Chainalysis. The shift marks a new phase in how the attackers are laundering the funds.

Exchange Gate said it froze two linked accounts connected to the activity. The move came as US investigators urged crypto platforms to block transactions associated with the stolen assets.

Why the swap matters

Converting tokens from one asset to another is a common step in moving illicit funds, because it can make the money harder to trace and to freeze. Moving into Bitcoin, the most liquid crypto asset, gives the attackers more options for cashing out or moving funds onward.

The case shows how much depends on quick coordination between exchanges, analytics firms and law enforcement. Account freezes like the one at Gate can interrupt laundering routes, but only if platforms act while the funds are still in reach.

What comes next

Investigators are asking platforms to screen and block transactions linked to the theft. Further freezes by other exchanges are possible as Chainalysis and authorities continue to follow the funds across blockchains.

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Tags:binancesolanabitcoinchainalysisgatemoney laundering

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