Binance Hacker Reportedly Converts Stolen SOL Into Bitcoin Through THORChain

Wallets linked to the reported Binance security breach are continuing to convert stolen $SOL into $BTC, according to blockchain analytics account Lookonchain.
The latest transactions reportedly follow a multistep route: SOL is exchanged for $USDC, transferred to Ethereum, converted into $ETH and subsequently swapped for Bitcoin through THORChain.
The sequence illustrates how stolen cryptocurrency can be moved between assets and blockchain networks, complicating efforts to trace and recover funds.
THORChain enables cross-chain asset swaps, making it possible to exchange cryptocurrencies across supported networks without relying on a conventional centralized exchange.
The reported activity suggests that assets associated with the breach remain in motion. However, the transactions alone do not establish how much of the stolen cryptocurrency has been successfully laundered or recovered.