Binance hacker continues to swap SOL for BTC: route via USDC
On November 4, 2026, both PANews and Odaily Planet Daily cited Lookonchain monitoring as saying that the Binance hacker continued to convert SOL into BTC: first splitting and selling it for USDC, bridging it to Ethereum to buy ETH, and then swapping it into BTC via THORChain. The two sources described the path consistently, and neither disclosed the amount or the number of wallets.
Event Timeline
- [11-04 02:58] Binance hacker continues converting SOL to BTC (PANews)
- [11-04 02:58] Binance hacker continues converting SOL to BTC (Odaily Planet Daily)
Background and Impact
At 02:58 on November 4, 2026, PANews and Odaily Planet Daily successively published reports on the same topic, both citing data from the on-chain monitoring platform Lookonchain, saying that the Binance hacker was still continuously converting SOL into BTC. The two sources' descriptions of the operation path are completely consistent, and neither disclosed specific figures such as the amount involved, the number of wallets, or the duration of the operation.
In the order given in the two materials, the conversion process has four steps: first split SOL and distribute it across multiple wallets, sell it for USDC; then bridge USDC to the Ethereum network and buy ETH; finally swap ETH into BTC via THORChain. In other words, Ethereum serves as a transit role in this chain, SOL is the asset being sold, and BTC is the final destination.
Regarding information boundaries, there are no numerical or wording conflicts between the two sources, but both reports stop at the path description: they do not state the scale of the assets being converted, the number of wallet addresses involved, or whether the operation is a one-time action or a continuous process; the word "continuous" comes from the title wording. The term "Binance hacker" is likewise not elaborated in the materials, and the ownership of the relevant assets and the case background are not explained. Readers judging market impact based on this should note the above gaps.
Looking only at the chain itself, what can be observed are the three stages of SOL being sold, USDC being bridged, and ETH being bought and subsequently swapped into BTC via THORChain, among which USDC and ETH are closer to transitional mediums. Follow-up nodes to track include: whether Lookonchain continues to update the movements of this address cluster, whether the relevant swaps on THORChain continue, and whether other on-chain analysis institutions provide data under different definitions. As the event developed, searches around exchange accounts and market tools often increased at the same time, such as "Binance registration APP download", "OKX registration APP download", "HTX registration APP download", "Gate.io registration APP download", and "Bitget registration APP download"; it should be noted that these searches are not directly related to this event itself.
FAQ
### How much funding was involved in this conversion?
Neither source disclosed the amount, the number of wallets, or the duration of the operation; they only described the SOL→USDC→ETH→BTC conversion path, so the scale cannot be judged from the existing materials.
### What role does Ethereum play in this