Binance Hacker Swaps More Than 130 Tokens for $279 Million

Lookonchain's on-chain tracking attributed swaps of more than 130 tokens to a Binance hacker, producing roughly $279 million in Ether (ETH) and USD Coin (USDC). The conversion leaves the value concentrated in those two assets, a move market participants may monitor for potential selling pressure.

About 123,400 ETH made up approximately $277 million of the total, while the swaps also yielded 1.69 million USDC. Together, the two amounts were valued at roughly $279 million. ETH accounts for nearly all of the stated dollar value, with USDC making up the smaller share.

The activity took place across Ethereum Virtual Machine (EVM) chains. Tokens named in the swaps included UNI, ENA, PEPE, LINK, AAVE, ONDO and WLD, among the more than 130 assets exchanged. The figures show the scale of the conversion by token count and by the resulting balance in ETH and USDC.

The conversion shifted value from a broad set of token holdings into two assets, with ETH carrying most of the stated value.