Binance Hacker Loses $5M in PROM Token Swap, Converts to Just $71 in Ether
A wallet linked to the Binance hacker suffered a massive loss after attempting to swap $5M in PROM tokens for Ether on Uniswap.
A wallet linked to the Binance hacker suffered a massive loss after attempting to swap $5M in PROM tokens for Ether on Uniswap. Uniswap (UNI) is trading at $7.24, up 0.4% since this brief published. This is an original TLT brief synthesising 2 outlets (The Cryptonomist, Finbold), with their figures cross-checked, plus live market data, as of Sun, 01 Nov 2026 13:00:05 UTC.
This incident highlights the risks of executing large transactions on illiquid decentralized exchanges, where slippage can lead to catastrophic losses. It also demonstrates the challenges faced by hackers in liquidating stolen assets.
- Wallet linked to $6.3B Binance hack lost $5M in PROM tokens through Uniswap swap.
- Swap executed on Uniswap V2 with insufficient liquidity, causing massive slippage.
- Transaction resulted in just $71 in Ether from initial $5M PROM value.
The Cryptonomist and Finbold both report that a wallet associated with the $6.3 billion Binance hack attempted to swap approximately $5 million worth of PROM tokens for Ether on Uniswap V2, resulting in a loss of nearly the entire amount and leaving just $71 in Ether. While both outlets agree on the core details and the $5 million figure, Finbold emphasizes the setback for the hacker while The Cryptonomist focuses on the mechanics of the transaction and its consequences.
- Binance Hacker Initiates Large-Scale Sell-Off of PEPE and UNI Tokens
- Binance Hacker Loses $5M in PROM Token Swap, Converts to Just $71 in Ether — this brief
A wallet linked to the record-breaking $6.3 billion Binance hack has suffered another significant loss after attempting to swap $5 million worth of PROM tokens for Ether on the decentralized exchange 
Uniswap V2. According to reports from The Cryptonomist and Finbold, the transaction was executed on a pool with insufficient liquidity, resulting in massive slippage.
The swap, which was tracked by blockchain analytics firm Lookonchain and reported on November 1, 2023, saw the hacker convert PROM tokens valued at approximately $5 million into just $71 in Ether. This dramatic loss was due to the lack of liquidity in the Uniswap V2 pool, causing the vast majority of the transaction's value to be lost to slippage.
Uniswap V2, while a pioneering decentralized exchange, is known for its lower liquidity compared to its successor, Uniswap V3. The total value locked (TVL) in Uniswap currently stands at $3.62 billion, according to DeFiLlama, having decreased by 4.1% over the past week.
This incident underscores the challenges faced by individuals attempting to liquidate large quantities of stolen assets through decentralized exchanges. The lack of liquidity in such exchanges can lead to significant losses due to slippage, as seen in this case.
In the broader market context, the total cryptocurrency market cap remains at $2.68 trillion, with 
Bitcoin showing a modest 24-hour gain of 0.44% and a current price of $34,500. The Fear & Greed Index stands at 34, indicating a 'Fear' sentiment among investors. Uniswap's native token, UNI, has seen a 3.78% increase in the past 24 hours, currently trading at $7.21.
Since this brief published about 2 hours ago, Uniswap (UNI) has moved from $7.21 to $7.24 — +0.42%.
The chart plots UNI's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 UNI ≈ ₦9,955.07 (about $7.24), up 3.6% over 24 hours. The naira itself trades about 2.2% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
TLT extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · November 1, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Binance Hacker Loses $5M in PROM Token Swap, Converts to Jus — questions & answers
How much did the Binance hacker lose in the PROM token swap?
The hacker lost nearly the entire $5 million value of the PROM tokens, with the swap resulting in just $71 in Ether.
Why did the PROM token swap result in such a large loss?
The swap was executed on a Uniswap V2 pool with insufficient liquidity, causing massive slippage and a significant loss of value.
What is the current status of the total cryptocurrency market?
The total crypto market cap is $2.68 trillion, with Bitcoin at $34,500 and a 24-hour gain of 0.44%.
How much is 1 Uniswap worth in naira today?
About ₦9,955.07 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $7.24. The naira price moves with both UNI's US-dollar price and the USDT/NGN rate; use our Uniswap in naira page for any amount.
Has Uniswap's price moved since this brief was published?
UNI is up 0.42% since this brief first published — trading at $7.24 now versus $7.21 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from The Cryptonomist, Finbold, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.