Binance Hacker Dumps 499 Billion SHIB Tokens During Massive $279M EVM Liquidation Sweep
Key Summary
Blockchain telemetry shows the Binance hacker offloaded 499,926,072,560 SHIB tokens for 873 ETH valued at $1.96M as part of a wider $279M multi-chain asset dump. Spot order books absorbed the selling pressure while exchange operators covered 95% of impacted customer assets following the DevOps security breach.
Key Bullets
- Lookonchain analytics confirmed the Binance hacker liquidated 499,926,072,560 SHIB tokens on open market order books for 873 ETH.
- The attacker offloaded over 130 altcoins across EVM chains to generate 123,400 ETH and 1.69M USDC totaling $279M.
- Exchange operators reported replenishing about 95.00% of impacted customer assets through open market purchases and OTC desks.
- Total Shiba Inu exchange reserves settled at 86,161,700,000,000 tokens holding a combined market value of $384.28M.
Hacker Dumps 499 Billion SHIB
Blockchain analytics tracking from Lookonchain revealed Tuesday that the primary Binance hacker offloaded 499,926,072,560 SHIB tokens for 873 ETH valued at $1.96M. On-chain transaction records confirm the sale formed part of a massive asset conversion spanning over 130 altcoins on EVM chains. Total proceeds from the multi-token liquidation reached $279M in combined ETH and USDC holdings. The attacker deployed automated smart contracts to swap the stolen digital assets across decentralized liquidity pools.
Security telemetry gathered during the initial incident last Thursday pointed to a compromised DevOps engineer laptop. This security breach allowed unauthorized threat actors to access internal service containers and authorize illicit withdrawal transactions. Exchange executives stated that total compromised funds reached $6.30B during the breach window. The hacker continued moving funds off-chain by swapping 970,522 SOL tokens for BTC through decentralized routing protocols.
Shiba Inu Spot Markets Absorb Blow
Spotted sell pressure drove Shiba Inu spot valuations down to an intra-week low of $0.00000446 on Friday following the initial exploit disclosure. TradingView charts indicate the token recently breached historical price floors at $0.00000480. Order books now point toward $0.00000410 as the primary downside target if immediate local bids fail to hold.
Total Shiba Inu exchange reserves settled at 86,161,700,000,000 tokens holding a combined market value of $384.28M based on spot order book measurements. Aggregate reserves shrunk by 0.02% over the twenty-four hour period. The dollar valuation of those pooled assets dropped at an accelerated rate of 0.47% due to ongoing downward pressure on the token spot price.
Exchange Balances and Asset Recovery
Top-ten Shiba Inu whale wallets deposited 2,281,000,000 tokens into CEX order books over the past twenty-four hours, according to telemetry data published by CryptoQuant. Large-scale holders slowed their historical deposit velocities down to a nominal volume while spot prices hovered near local consolidation ranges.
Binance representatives confirmed the exchange has covered roughly 95.00% of the total stolen assets while absorbing all client losses resulting from the historical exploit. Exchange operators reported replenishing customer funds through open market purchases and OTC desks while maintaining standard operations.
Impact score:4 out of 5 | Narrative Tracker:Security, Exploits & Asset Recovery
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