RUNE
+11.5%Bitget hack funds moved through cross-chain swaps, reports say
Image: CointelegraphBitget suffered a $387.5 million hack, and the stolen funds are linked to suspected North Korean hackers. The funds were moved through cross-chain swap services. THORChain was named in the laundering path and says it is decentralized and permissionless. Chainflip tried to block suspected laundering activity, but MistTrack reported one deposit was rejected and refunded rather than frozen. SlowMist says proceeds were converted to BTC before CoinJoin was used.
Key points
- Bitget suffered a hack, and the stolen funds are linked to suspected North Korean hackers.
- The stolen funds were moved through cross-chain swap services, the reports say.
- THORChain was named in the laundering path and is described as permissionless in the reports.
Why it matters
The movement of stolen funds through cross-chain services shows how hacked assets can be swapped and converted across protocols. It also shows that THORChain says it cannot easily block addresses, while Chainflip tried to block some activity.
What's unclear
Whether the attackers are definitively North Korean remains unconfirmed, one report calls them suspected North Korean hackers, while another describes them as North Korean hackers.
Whether THORChain or its developers could face prosecution over the stolen funds remains unresolved.
Price context · RUNE
At publication
$0.8063
Now
$0.8306
Change since
+3.01%
7 days · dashed line = publication
Sources · 2 publishers
CryptoPotato
Tier 2
Stolen Bitget Funds Converted to BTC via CoW, Chainflip: Report
Coverage timeline
- First reported by Cointelegraph
- Confirmed by CryptoPotato
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
