87.8 BTC Traced as Bitget Hack Funds Reach Mixers

Investigations into the $387.5 million Bitget hack have revealed that around 87.82 BTC remains unspent in ten Bitcoin outputs, according to blockchain intelligence firm BitOK. This branch of the stolen funds has not been mixed with other coins and could still be monitored directly, giving investigators a potential lead.

BitOK's analysis shows how funds moved through various channels after the September 24 attack, including decentralized exchanges, cross-chain services, and mixing transactions. The firm's updated report identifies nine direct inputs totaling 14.61453223 BTC entering Wasabi CoinJoin rounds on September 28 and 30.

However, tracing the stolen funds has proven challenging due to their movement through privacy mechanisms such as Tornado Cash and Wasabi. BitOK notes that identifying where money went does not necessarily establish who controls it or how much remains recoverable.

The investigation highlights the difficulties in crypto investigations, including the ability to freeze coins at the protocol level and the need for law enforcement to intervene when funds reach centralized exchanges or services able to freeze withdrawals.