Binance Hack Triggers TRX Price Spike

Hackers behind the Binance breach, acknowledged by Changpeng Zhao, rushed to buy large amounts of TRX on the Tron network. The purchases were meant to sidestep potential blocks, pushing the token’s price sharply higher.

The exchange is facing losses estimated above two billion dollars. Circle and Tether reacted by freezing roughly 1.8 billion in assets.

The move illustrates how attackers lean on specific blockchains to move stolen funds after major exchange incidents.

Based on information from cryptonews.net