Binance Hack Conversions Yield $124 Million in Bitcoin

About 1,650 Bitcoin (BTC), worth roughly $124 million, had been acquired by converting assets stolen in the Binance hack. That was nearly twice the amount tracked the prior day.

Most of the increase came from stolen XRP converted to BTC through THORChain. About $50 million worth of stolen XRP had been converted, while roughly $226 million had not yet been moved out.

The $124 million total counts BTC acquired through conversions; it does not represent every asset linked to the theft. The hacker’s main holdings of Ether (ETH) and BTC remained unmoved. Those balances are separate from the BTC acquired by swapping other stolen assets.

The update tracks distinct parts of the asset movement: BTC accumulated through conversions, XRP already exchanged and XRP not yet moved out.