$124M in Bitcoin from Binance hack stolen assets converted, mostly from XRP via THORChain. - Pluang

The conversion of stolen assets continues following the Binance hack, with hackers converting approximately $50 million worth of stolen XRP into 1,650 Bitcoin through THORChain. This brings the total Bitcoin obtained from the theft to roughly $124 million, nearly doubling the amount tracked the previous day.

The $124 million figure only includes Bitcoin obtained through conversions and does not cover all assets linked to the theft. Approximately $226 million in stolen XRP remains unmoved, while the hacker's main holdings of Ether and Bitcoin remain untouched, separate from the Bitcoin gained by swapping other stolen assets.

Market Context

The developments come as Bitcoin approaches a rare fifth consecutive weekly loss, trading around $75,800. Despite the long streak, weekly losses remain small, totaling about 12.4% over five weeks, indicating a gradual slide rather than a sharp decline.

Among 50 major cryptocurrencies, 13 rose and 36 fell as of November 8, 2026. Notable movers include SXP down 46.27%, BAL up 11.14%, and EOS up 8.13%, reflecting the ongoing volatility in the cryptocurrency market.