Wallets tied to the suspected Binance hacker are moving through DeFi protocols to rotate stablecoins into Ether, according to Techub, citing Decrypt. The report said the addresses received tens of thousands of ETH from Uniswap contracts and also deposited about $60 million in USDT into Aave, where they borrowed 19,762 ETH. As of 6:07 a.m. Beijing time on Oct. 30, the two wallets were holding about 253,000 ETH, valued at roughly $570 million. In response, Aave froze its V3 market on Ethereum mainnet. Lending protocol Kamino also suspended its SOL/BTC market. The report added that Ripple froze about 200 million RLUSD, while stablecoin issuers had previously frozen more than 2 billion USDT and USDC. The developments point to a fast-moving on-chain response across multiple protocols as the funds continue to shift.
Wallets linked to the suspected Binance hacker are using DeFi to swap stablecoins into Ether, according to Techub, citing Decrypt. The wallets received tens of thousands of ETH from Uniswap contracts.
The same addresses also deposited about $60 million in USDT into Aave and borrowed 19,762 ETH. As of 6:07 a.m. Beijing time on Oct. 30, the two wallets were holding about 253,000 ETH, worth roughly $570 million.
Aave has frozen its V3 market on Ethereum mainnet. Lending protocol Kamino has also suspended its SOL/BTC market. Ripple froze about 200 million RLUSD, and stablecoin issuers had previously frozen more than 2 billion USDT and USDC.
The report was attributed to Decrypt.
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