Ethena transfers 128.6M ENA to Binance amid reports of stolen asset buyback
On-chain data shows Ethena deposited 128.63 million ENA into Binance over eight hours as reports surfaced alleging the exchange is repurchasing stolen assets.
Ethena transferred 128.63 million ENA, valued at approximately $24 million, to Binance over an eight-hour period, according to on-chain analytics account Lookonchain. Lookonchain reported that Binance is replenishing stolen assets through open-market channels and over-the-counter trades.[2][1]
Arkham Intelligence transaction data attached to the report showed multiple transfers moving from an Ethena Coinbase Prime Custody wallet to a Binance deposit address. The transactions included four transfers of 25.253 million ENA, an inflow of 22.248 million ENA, and several smaller movements ranging down to 11 ENA.[2][3]
Crypto commentator KookCapitalLLC also noted the transfers, claiming that $5 billion of an alleged $6.3 billion was already held in the affected tokens. The account added that Binance withdrawals are scheduled to resume Sunday ahead of a proof-of-reserves update on Monday.[3]
Key facts
- Lookonchain reported that Ethena deposited 128.63 million ENA, worth roughly $24 million, into Binance over an eight-hour period.
- Lookonchain stated that Binance is buying back stolen assets via market channels and OTC deals.
- Arkham transaction records show transfers from an Ethena Coinbase Prime Custody address to a Binance deposit address, including four separate transfers of 25.253 million ENA and one of 22.248 million ENA.
- Arkham records show the individual ENA transfers ranged in USD value from $2.05 to $4.71 million.
- Account @KookCapitalLLC claimed $5 billion of an alleged $6.3 billion was already held in those exact tokens, stating withdrawals would resume Sunday and proof of reserves would follow Monday.
Sources · 3 sources
- CB
Crypto Banter@crypto_banterPost on X ·
BINANCE IS BUYING BACK STOLEN ASSETS VIA MARKET AND OTC DEALS! @binance is replenishing the stolen tokens through both market purchases and OTC deals, according to @lookonchain. Over the past 8 hours, @ethena deposited 128.63M $ENA (worth about $24M) into Binance.
Open source - LO
Lookonchain@lookonchainPost on X ·
Binance is buying back the stolen assets through market channels and OTC deals. Over the past 8 hours, Ethena(@ethena) has deposited 128.63M $ENA ($24M) into #Binance. https://t.co/P7GMFOSsMr https://t.co/rSrBcIiMRA
Open source - KO
kook@KookCapitalLLCPost on X ·
binance is currently buying back stolen tokens on the open market ethena sent them 128.63m $ena worth $24m in 8 hours..... $5b of the $6.3b was already sitting in those exact tokens withdrawals start coming back sunday proof of reserves monday sunday is the bank run test https://t.co/lctoJxPR0h
Open source