--- title: "Binance hackers begin swapping stolen Solana tokens for Bitcoin, Chainalysis says" description: "Blockchain analytics firm Chainalysis reported that hackers behind the Binance theft have begun converting stolen Solana tokens into Bitcoin, Cointelegraph…" language: en canonical: "https://whycoinmoves.com/en/events/solana-binance-hackers-begin-swapping-stolen-7af14015c914e2" published: 2026-11-02T12:45:57.000Z updated: 2026-11-02T13:46:00.000Z indexable: true --- # Binance hackers begin swapping stolen Solana tokens for Bitcoin, Chainalysis says Blockchain analytics firm Chainalysis reported that hackers behind the Binance theft have begun converting stolen Solana tokens into Bitcoin, Cointelegraph… Attributed sources: [Cointelegraph]() ## Key facts Blockchain analytics firm Chainalysis reported that hackers behind the Binance theft have begun converting stolen Solana tokens into Bitcoin, Cointelegraph reported. Crypto exchange Gate said it froze two linked accounts as US investigators urged platforms to block transactions tied to the $6.3 billion theft. Evidence strength: Single source, 1 publisher group(s) (Cointelegraph). After site detection, observed returns were 5 minutes: -0.11% (difference from BTC -0.06 pts; Nov 2, 2026, 12:45 → Nov 2, 2026, 12:50, UTC; Gate · USDT); 1 hour: +0.65% (difference from BTC +0.27 pts; Nov 2, 2026, 12:45 → Nov 2, 2026, 13:45, UTC; Gate · USDT) In the preceding 30 days, the 99th percentile of absolute hourly returns was 1.94% (OKX · USDT; cutoff Nov 2, 2026, 12:45, UTC). ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | -0.11% | -0.05% | -0.06 pts | Nov 2, 2026, 12:45 → Nov 2, 2026, 12:50 | Gate · USDT | | 1 hour | +0.65% | +0.37% | +0.27 pts | Nov 2, 2026, 12:45 → Nov 2, 2026, 13:45 | Gate · USDT | ## Historical hourly baseline | Metric | Value | | --- | --- | | Coverage | 100.0% (720/720) | | Median absolute hourly return | 0.26% | | 99th percentile of absolute hourly returns | 1.94% | | BTC beta | 1.43 | | Source / cutoff (UTC) | OKX · USDT / Nov 2, 2026, 12:45 | ## Claims and open questions - Chainalysis said the hackers behind the Binance breach have started swapping stolen Solana tokens for Bitcoin, according to Cointelegraph. - Crypto exchange Gate said it froze two accounts linked to the stolen funds, Cointelegraph reported. - US investigators urged crypto platforms to block transactions tied to the $6.3 billion theft, Cointelegraph reported. - What share of the stolen Solana tokens has been converted to Bitcoin would be shown by Chainalysis's own tracing data or on-chain flows from the identified wallets. - Whether the two accounts frozen by Gate held any of the converted funds would be confirmed by a Gate statement or law enforcement notice. ## Source evidence - [Binance hackers begin swapping stolen Solana tokens for Bitcoin: Chainalysis]() — Cointelegraph; published Nov 2, 2026, 12:40; received Nov 2, 2026, 12:45 (UTC). ## Recent SOL events and market reactions - [Solana Agave validator: v4.4.0 released]() — Published Oct 28, 2026, 20:35 (UTC) · Official source (1 publisher) · Project updates · 5m +0.08% / 1h -0.15% / 24h -1.03% - [Polygon brings its stablecoin payments stack to Solana]() — Published Oct 29, 2026, 13:01 (UTC) · Multiple publishers (3 publishers) · General news · 5m -0.11% / 1h -0.04% / 24h -3.94% - [Solana Foundation adds Boris Johnson and Martin Gilbert to Breakpoint 2026 lineup]() — Published Oct 26, 2026, 22:52 (UTC) · Official source (1 publisher) · General news · 5m -0.19% / 1h -0.54% / 24h +2.79% - [Solana changelog lists Agave v4.3.2 and Firedancer v26.10.4 releases]() — Published Oct 23, 2026, 01:09 (UTC) · Official source (1 publisher) · General news · 5m -0.07% / 1h +0.34% / 24h -1.42% - [Solana activates Alpenglow consensus upgrade on mainnet]() — Published Oct 21, 2026, 04:35 (UTC) · Multiple publishers (3 publishers) · Project updates · 5m -0.14% / 1h +0.09% / 24h -0.51% - [Full coin archive]() ## Research for this archive - [Why is crypto moving? How to check the evidence]() - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Do XRP and Solana ETF flows move the price? First-year data]() - [Perpetual funding rates and annualized yield: a 2025 comparison]() Evidence levels describe source coverage, not the probability that a report is true. Price moves and their timing cannot establish a cause; minute samples show an observed interval and alert thresholds are heuristics. Explanations are model-assisted, with citations and figures checked. Source titles stay in their original language; full articles are not republished. [Methods and limitations]()