Elliptic: Binance Hackers Convert Approximately $50 Million Worth of XRP Into Other Assets

TechFlow: On November 6, according to The Defiant, on-chain analysis firm Elliptic stated that Binance hackers have begun cashing out stolen XRP, with approximately $50 million worth of XRP mostly converted to Bitcoin via THORChain. As of 16:45 Beijing Time on November 6, approximately $226 million worth of XRP has not yet been transferred.

Elliptic noted that Bitcoin obtained from exchanging other stolen assets has reached approximately 1,650 BTC, valued at around $124 million, nearly doubling from the previous day, with the increase primarily driven by XRP conversions. This portion is separate from the directly stolen 18,270 BTC, and neither the BTC nor the major ETH holdings have been transferred yet.