TRON: 13.4% Correction After $234 Million Swap on October 29
Original headline트론, 10월 29일 2억3400만달러 교환 뒤 13.4% 조정
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TRON (TRX) rose from $0.328 to $0.365 within hours on October 29 after the attacker behind the Binance hack swapped $234 million in stolen Tether (USDT) into TRX, but the token has since corrected 13.4%, according to an AMBCrypto analysis updated November 3. Bitquery data cited in the report confirmed the attacker's wallet executed the USDT-to-TRX swap via SunSwap at an average price of $0.367 per TRX, above the ~$0.33 market rate at the time, suggesting the swap itself drove artificial demand for the token. The $234 million figure represents only the portion converted to TRX, not the total hack losses. The episode highlights how large forced conversions of stolen funds can distort token prices in thin liquidity conditions. Watch for further on-chain movements from the attacker's wallet and whether TRX retraces toward pre-swap levels as the artificial demand unwinds.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
Tron (TRX) (TRX), Tether (USDT), Binance, BitQuery, AMBCrypto
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