Binance Hacker Swaps More Than 130 Tokens for $279 Million

Lookonchain's on-chain tracking attributed swaps of more than 130 tokens to a Binance hacker, producing roughly $279 million in Ether (ETH) and USD Coin (USDC). The conversion leaves the value concentrated in those two assets, a move market participants may monitor for potential selling pressure. About 123,400 ETH made up approximately $277 million of the total, while the swaps also yielded 1.69 million USDC. Together, the two amounts were valued at roughly $279 million. ETH accounts for nearly all of the stated dollar value, with USDC making up the smaller share.