Crypto

Bitget Attacker Converts Stolen Ethereum to Bitcoin via THORChain

Guavy AI Editorial Team Published September 28, 2026

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BTC ETH RUNE

According to on-chain data from Lookonchain, the wallet linked to the Bitget attacker is converting its Ethereum holdings into Bitcoin through THORChain. This development comes after the platform reported a significant hack in September, with an estimated $351.6 million stolen.

The shared records show transfers between addresses and ETH-to-BTC swaps. The address beginning with 0xf7bC is sending ETH to THORChain vaults in successive transactions, while receiving funds from a wallet labeled 'Bitget Hacker.'

Swap records on THORChain's transaction screen reveal that BTC is being received in exchange for the ETH sent. The shared screenshots show multiple Rapid Swap transactions, with one example converting 85.75 ETH into approximately 2.70 BTC.

Bitget Attacker Converts Stolen Ethereum to Bitcoin via THORChain

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