Add as a preferred source on GoogleBinance Theft-Linked Funds Reach 1,650 Bitcoin as Conversions Nearly Double
About $124 million in BTC had reached new addresses by early Nov. 6 ET, with XRP conversions accounting for most of the increase.
About 1,650 Bitcoin (BTC) worth roughly $124 million from funds tied to the Binance theft had reached new Bitcoin addresses by 3:45 a.m. ET Nov. 6 (08:45 UTC), nearly twice the amount recorded a day earlier. The tally counts BTC moved to new addresses; XRP that had not been converted remained separately.
Most of the increase came from XRP moved through THORChain into Bitcoin. Of the 233 million XRP transferred to six new addresses on Nov. 2, about 42 million XRP, valued at roughly $50 million, had since moved out. About 192 million XRP, worth roughly $226 million, remained.
A small amount of Ether (ETH) also was converted into Bitcoin through THORChain. Based on the rounded token totals, the XRP still held amounted to about 82% of the original transfer. The BTC tally tied to the theft had nearly doubled in a day as the conversions continued.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.