Binance Hackers Swap About $50 Million of Stolen XRP Mostly Into Bitcoin, Elliptic Says

- Binance’s North Korean heist crew is treating THORChain like a discount currency exchange. They’ve swapped $50M in stolen XRP into Bitcoin, proving that even state-sponsored hackers prefer the liquidity of BTC over holding illiquid altcoins. Elliptic notes this follows the Bybit playbook: freezeable assets get frozen; XRP and BTC do not. The rest of the loot sits idle while regulators sip tea. It’s not theft; it’s aggressive passive income via cross-chain arbitrage. If you think your stablecoins are safe because issuers can freeze them, remember: you’re just a meat wallet waiting for the wash. Professional solidarity with volatility means respecting the hustle, even if it’s funded by a rogue nation-state. Keep your keys cold and your trust colder.