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newscord.orgNOV 22 min read$SOL-USD

Binance Hacker Swaps $95.9M Stolen Solana Into Bitcoin Via Relay Protocol: 12 outlets compared

A wallet linked to the Binance hack transferred $95.9M in Solana (SOL) to Bitcoin (BTC) via Relay Protocol. The FBI attributed the hack to North Korea's TraderTraitor, urging exchanges to block related transactions. THORChain's outage delayed laundering of stolen funds. Traders are positioning for SOL downside, with key support at $90.

Original reporting
newscord.org
Published Nov 2, 2026, 5:25 PM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Nov 2, 2026, 8:00 PM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
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Binance Hacker Swaps $95.9M Stolen Solana Into Bitcoin Via Relay Protocol: 12 outlets compared — source image
Source · newscord.org
Decision brief

The 30-second read

$SOL-USDBearishLow
01

Why it matters

The disclosed swaps represent the first public accounting of a $95.9M SOL liquidation, creating immediate price pressure on SOL and buying interest in BTC.

02

Market read

The hack’s scale and the cross‑chain mechanics are novel, affecting SOL and BTC price dynamics and prompting heightened security focus on bridging services.

03

What to watch

Potential regulatory scrutiny on cross‑chain protocols like Relay could affect related projects beyond SOL and BTC.

Relevance 7/10Novelty 8/10Timing: today

Background

The article details a Binance hack where the attacker moved large amounts of SOL into BTC via Relay Protocol, with FBI attribution to North Korean actors and related THORChain disruptions.

Company-level read

Ticker impact

$SOL-USDBearishHigh confidence
Context

A Binance hacker swapped 970,522 SOL ($95.9M) for BTC, indicating a large sell pressure on SOL.

Expected impact

likely pressure as the market prices in the large SOL sell‑off

Evidence & confidence

The article reports the first disclosure of a multi‑hundred‑million‑dollar SOL liquidation, a material event for the token.

$BTC-USDBullishHigh confidence
Context

The same hacker converted the stolen SOL into Bitcoin, creating buying demand for BTC.

Expected impact

likely upside as the market absorbs the BTC inflow

Evidence & confidence

First report of a $95.9M SOL‑to‑BTC swap suggests fresh demand for Bitcoin.

Market effects

Sector

Highlights ongoing crypto‑theft laundering risks and may prompt tighter monitoring of cross‑chain bridges.

Regional

Global impact on crypto markets; no specific regional effect.

Global

Significant for the broader crypto ecosystem due to the size of the hack.

Counterpoint

What could challenge this read

Some traders may view the BTC inflow as a short‑term catalyst for a pullback if the hacker exits positions quickly.

Key entities

  • exchange
    Binance

    Target of the hack; its compromised wallet performed the swaps.

  • cross‑chain service
    Relay Protocol

    Facilitated the SOL‑to‑BTC conversion.

  • cross‑chain DEX
    THORChain

    Experienced outage that slowed laundering of the stolen funds.

Read at source← All news

Also covered by

1 outlet

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