Binance-Stolen SOL Reaches HitBTC Hot Wallet
About 3,600 SOL stolen from Binance reached a HitBTC hot wallet at 16:51 Beijing time on 3 November, blockchain monitoring firm Salus said. The Binance-stolen SOL was routed through multiple paths using automated scripts and a peeling-chain pattern; the later report also described cross-chain transfers. Salus noted that HitBTC has appeared in routes linked to other major crypto thefts. It estimated that about $22 million in illicit funds had flowed to HitBTC by July, including at least $3.68 million linked to a North Korean laundering network in the Bybit hack. Salus said requests for cooperation received little response. Stolen funds are often moved through instant-swap services, smaller exchanges and over-the-counter desks. The reports do not say whether HitBTC froze the SOL or whether any of it was sold. The transfer raises security and compliance concerns, but no direct market impact was reported.
Neutral
The transfer of stolen SOL to an exchange wallet is a security and compliance concern, but neither report confirms a sale, a freeze, or a resulting change in SOL’s circulating supply. As a result, the direct price impact on SOL appears limited, supporting a neutral classification. In the short term, traders may watch for exchange action, further wallet movements, or signs that the funds are being sold; confirmed selling could add temporary supply pressure. Over the longer term, the incident may renew attention to Solana-related security and exchange compliance, but without evidence of a broader network issue or sustained selling, it does not by itself establish a lasting direction for SOL prices.