Binance Hacker Swaps Stablecoins for Ethereum on DeFi Apps
An address linked to the Binance hacker holds 195,000 ETH as the wider cryptocurrency market faces a severe downturn.
Update (Oct 29, 23:12 UTC): Hackers connected to the Binance exploit are utilizing decentralized platforms like Uniswap and Aave to exchange freezeable stablecoins for Ethereum. Aave subsequently froze its V3 markets on the Ethereum mainnet, while Kamino paused its Solana and Bitcoin markets.
According to Cryptoticker, an address linked to the historical Binance hacker currently holds 195,000 ETH. The sizeable holding comes to light as Ethereum and the broader digital asset market navigate a steep crash and widespread downside risks.
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Holdings Overview
The wallet associated with the exploit continues to retain a massive volume of the asset without movement, drawing attention from market participants monitoring large-scale token distributions and historical exchange security incidents.
Key facts
- An address linked to the Binance hacker holds 195,000 ETH
- The development emerges amid a broader cryptocurrency market crash
- Market participants continue to track large historical wallet balances
Source: news.google.com
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