A wallet holding funds stolen in the 2026 Binance hack moved 485,270 SOL, valued at $46 million, to an unknown address. The batch is roughly half of the Solana traced to the breach. The attackers still control most of the stolen assets, even as Binance covers user losses.
A wallet holding stolen funds from the Binance hack moved 485,270 SOL, valued at $46 million, to an address with no known owner. Blockchain tracking service Whale Alert flagged the transfer.
Half of the traced Solana changes address
Analytics firms have traced about 970,500 SOL to the initial breach, valued at around $96 million when the hack happened. The new batch is approximately half of that total, so the attackers have repositioned roughly half of their Solana haul in one transfer.
Half of $96 million would be about $48 million, yet the batch is valued at $46 million. That means the dollar value per token has slipped since the theft.
A theft of historic scale
The October 29, 2026 attack on Binance's hot wallets saw approximately $6.3 billion stolen, making it the largest digital asset theft in history. The losses spread across roughly 10 blockchains, and Ethereum, Bitcoin and SOL all took significant hits.
Stablecoins accounted for around $3 billion of the damage, and much of that total was frozen because issuers of dollar-pegged tokens can often lock specific addresses. Native assets like SOL, Bitcoin and ETH have no central party able to do the same, which helps explain why SOL is the asset in motion here.
Binance covers losses, attackers keep the funds
The FBI has attributed the breach to TraderTraitor, a North Korean state-linked hacking group connected to the Lazarus Group. Binance halted withdrawals on October 29, 2026, at around 20:05 UTC, and began resuming them in phases starting November 1, 2026.
Binance has committed to covering all user losses through its Secure Asset Fund for Users, known as SAFU. Estimates indicate that 90-95% of the losses are already covered through company reserves, yet the majority of the stolen assets remain under the attackers' control.
What to watch for SOL holders
A sale of 485,270 SOL through exchanges or swap services could add selling pressure, though nothing in the transfer itself confirms a sale is coming. Crypto Briefing lists three things to watch next: whether the remaining roughly half of the traced SOL follows this batch, whether any funds reach exchanges that can freeze them, and whether law enforcement announces seizures.
Source: Crypto Briefing
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