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Binance Hackers Route 81 Percent of Stolen Solana Through THORChain

Binance Hackers Route 81 Percent of Stolen Solana Through THORChain

Arkham identified 182,443 SOL worth $16.9 million remaining in wallets linked to the attackers

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 4 November 2026 19:17 IST

Binance Hackers Route 81 Percent of Stolen Solana Through THORChain

Photo Credit: Unsplash/Sasun Bughdaryan

Lookonchain traced the hackers’ SOL conversions into USDC, Ether, and Bitcoin

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Highlights

Attackers reportedly moved stolen SOL across multiple wallets
Binance claims 98 percent of affected tokens have been replaced
THORChain resumed cross-chain trading after a temporary suspension

According to blockchain analytics company Arkham, the attackers behind the Binance hack of $6.3 billion (roughly Rs. 59,768.1 crore) transferred approximately 81 percent of the stolen amount of Solana (SOL) while still laundering money through THORChain, which is a cross-chain swap solution. The Binance hacker's wallets stored 182,443 SOL worth $16.9 million (roughly Rs. 159 crore), or roughly 18.8 percent of the 970,522 SOL hacked in the breach. As per Lookonchain's findings on Wednesday, the hackers divided the stolen SOL into multiple wallets and then sold them for USDC, bridged them to the Ethereum network to purchase Ether, which was finally swapped to Bitcoin (BTC).

FBI Attributes Binance Attack to North Korean Hackers as THORChain Resumes Operations

Binance experienced a historic hack on Thursday following an employee breach through fake interview processes and malware downloads. According to Binance, 98 percent of tokens have been replaced as of Tuesday. The US Federal Bureau of Investigation, on Saturday, said that North Korean hackers named TraderTraitors carried out the hack and asked crypto service providers and THORNode operators to block related transactions.

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The Binance hacker continues to swap $SOL for $BTC! They're splitting the $SOL across multiple wallets and selling it for $USDC. Then they bridge the $USDC to Ethereum and buy $ETH. Finally, they swap the $ETH for $BTC via #THORChain. https://t.co/2qK0H97eUW https://t.co/LrBmaI06yi
— Lookonchain (@lookonchain) November 4, 2026

In a statement released through the Korean Central News Agency (KCNA), Kim Yo Jong, who is the sister of the leader of North Korea, Kim Jong Un, called the allegations “absurd rhetoric.” North Korea-linked hacking groups are accused of utilising THORChain to launder the funds that were stolen during the biggest cryptocurrency hacks, like the $1.4 billion (roughly Rs. 13,250 crore) Bybit hack.

THORChain enabled trading activities of Bitcoin, Ethereum, and other chains on Wednesday. Activities had been stopped since Saturday following the occurrence of a bug due to Ethereum block reorganisation. However, this unintentionally blocked any activities by the hackers behind Binance hacks, who were trying to launder money, according to Chainalysis. According to SomaXBT, a blockchain investigator, 54 percent of the transactions made by the hackers were automated.

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Earlier this week, Binance restarted withdrawals of USDT, USDC, ETH, and BNB on the Ethereum and BNB Smart Chain networks, allowing customers to make stablecoin transfers after the attack on October 29, which saw the theft of about $6.3 billion (roughly Rs. 59,768.10 crore). According to a Binance announcement on November 1, USDT, USDC, and ETH could be withdrawn from Ethereum. This was after Bitcoin withdrawals on Sunday, when the exchange started to resume its operations after more than three days of limitations.

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Further reading: Crypto hacks, binance hack, Solana Cryptocurrency

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More

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