Binance Hackers Swap $50 Million in XRP, Mostly Into Bitcoin, Elliptic Says

Binance Hackers Swap $50M Of Stolen XRP Mostly Into Bitcoin

Hackers tied to the record Binance theft have begun converting a large slice of the stolen XRP into bitcoin, blockchain analytics firm Elliptic said in an update dated through Friday, with about 42 million XRP — roughly $50 million — already swapped, mostly through THORChain. Converted bitcoin from other stolen assets nearly doubled overnight to about 1,650 BTC, worth some $124 million, Elliptic wrote. Most of that jump came from the XRP route. …

$3.1B in Stolen Binance Crypto Has Yet to Be Laundered: Elliptic

The attackers have used more than 20,000 wallets on 16 blockchains so far, but the bulk of the stolen ETH and Bitcoin hasn't moved.

XRP Sees $50 Million Shift Amidst Binance Hack Developments

XRP movement of $50 million through THORChain follows Binance hack news. Here's why traders are paying attention.

Binance Hackers Swap $50 Million in XRP, Mostly Into Bitcoin, Elliptic Says

Bitcoin obtained from other stolen assets nearly doubled in a day to 1,650 BTC, while the main ETH and bitcoin holdings remain untouched.

Hackers swap $50M stolen XRP for 1,650 BTC via THORChain: Elliptic

The conversion of stolen XRP to Bitcoin may heighten regulatory scrutiny and impact market sentiment, affecting XRP's short-term valuation.