The Binance Hacker Sold $40 Million of Uniswap and $34 Million of Ethena. Which Recovers First?
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BizTocThe Binance Hacker Sold $40 Million of Uniswap and $34 Million of Ethena. Which Recovers First?
A hacker converted tens of millions in stolen UNI and ENA into Ether, and the two tokens are now in a race back to respectability with very different structural odds stacked against each of them.
According to ChainCatcher and Lookonchain monitoring, Binance hackers sold over 130 altcoins on the EVM chain, obtaining approximately 123,400 ETH and 1.69 million USDC, totaling about $279 million. Specifically, they sold approximately 7.0188 million UNI for 17,585 ETH; approximately 217 million ENA for 15,288 ETH; and approximately 7.77 trillion PEPE for 14,049 ETH.
Ethena’s ENA Falls 16% As Binance Hack Hits Governance Token
Ethena’s governance token ENA dropped more than 16% in a four-hour trading window surrounding the October 29 Binance security incident, while its synthetic dollar USDe remained comparatively stable. The divergence suggests that investors directed much of their immediate concern toward the protocol’s governance token rather than rushing to exit its dollar-pegged product. However, the episode also placed renewed attention on Ethena’s collateral ar…
The perpetrator of the Binance attack sold 217.5 million ENA for $33.93 million; ENA approached $0.1871. USDe supply remained stable, support is at $0.1697.
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