Lookonchain: Binance hacker continues to exchange SOL for BTC

The Binance hacker continued converting stolen SOL into BTC, according to Lookonchain monitoring cited on November 4. The funds were first spread across multiple wallets, where SOL was sold for USDC, then bridged to Ethereum and used to buy ETH, which was subsequently swapped for BTC via THORChain. The multi-step route through USDC, ETH and THORChain suggests the hacker is consolidating proceeds into bitcoin while obscuring the on-chain trail. The continued selling adds persistent pressure to SOL markets and liquidity flows through THORChain. Traders will watch whether the hacker keeps rotating remaining holdings into BTC and how much SOL overhang remains across the dispersal wallets.