TRX Price Falls Below Its Pre-Hack Level as the Binance Hacker Splits Up 231M TRX

The TRX price has given back the whole hacker pump and then some. On Thursday night the Binance hacker swapped 234 million USDT into 638.2 million TRX, lifting TRX from $0.3315 to $0.3654 within two hours. At the time of writing it trades at $0.3233, 2.5% below where it stood before the $6.3 billion Binance hack.

What matters now is the coins themselves. The hacker still controls most of that TRX, and since Friday a large part of it has been chopped into small pieces and sent across fresh wallets.

On-chain tracker OnchainLens flagged the latest move early on Saturday:

Onchain Lens @OnchainLens

BINANCE HACKER RAMPS UP LAUNDERING ACTIVITY, UNLIKE ANYTHING SEEN BEFORE

The hacker group is using automated transfers to repeatedly split funds across multiple wallets, route them back to earlier addresses, and redistribute them to new destinations to obscure the trail.

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2:22 AM · Oct 31, 2026 View on X

Why Did the Binance Hacker Buy TRX?

To get out of USDT before Tether could freeze it. The hacker’s main TRON wallet received 612.7 million USDT at 20:22 UTC on Thursday and passed 300 million of it to a second wallet, which started swapping on SunSwap, TRON’s main decentralized exchange, at 20:46 UTC.

It was a race, and the hacker only half won it. Tether blacklisted the main wallet at 21:09 UTC with 312.7 million USDT still inside, then froze the swap wallet at 21:17 and a third wallet holding 66 million at 21:21. By then 234 million USDT had already become TRX at an average of about $0.367 per coin, the price of buying that much in a hurry.

That buying is the spike on Thursday’s candle. It faded as soon as the purchases stopped.

Where Is the Hacker’s TRX Now?

All 638.2 million TRX landed in one wallet. On Friday between 10:15 and 10:20 UTC it was split into four wallets of 120 million and one of 158.2 million. Three of them, holding 398.2 million TRX worth about $129 million, haven’t moved since.

Two others have. Each sent its 120 million TRX to the same collector wallet, the first on Friday at 10:20 UTC and the second on Saturday at 01:01 UTC, and that collector also took 46.4 million TRX straight from the hacker’s main wallet. Since Friday 02:19 UTC it has paid out 231.4 million TRX, about $75 million, in 569 transfers to 140 addresses, mostly between 100,000 and 1 million TRX at a time. About 53.5 million TRX are still in it.

Wallets one step further down the chain were created on Friday and split the coins again, some into 30,000 TRX lots. That is the classic way to blur a trail before cashing out through OTC desks or exchanges. How much of it has been sold so far can’t be read from the chain yet; the point is that it is moving.

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Does the Hacker’s TRX Weigh on the TRX Price?

It hangs over it. Together, the 398.2 million untouched TRX plus what’s left in the collector wallet come to roughly $146 million, against about $1 billion in daily TRX trading volume. That isn’t enough to crash TRX in one go, but any of it reaching an order book adds supply on a day when TRX is already down 4.7%.

A thief doesn’t care much about the Tron price. At $0.3233 the TRX is worth about $206 million, some $28 million less than the USDT it cost. For stolen money, that’s still a far better result than a Tether freeze.

TRX Price Under Its 50 and 200-Day MA

The TRX price now sits under both its 50-day MA at $0.3345 and its 200-day MA at $0.3339. Its pre-hack $0.3315 level is the first line to win back. If the hacker’s wallets start selling in size, the next support is $0.3144.

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Written by

TANG

In crypto since 2017. A technical trader with years of experience in DeFi and onchain data.

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