Bitget Funds Laundered into Bitcoin through CoW and Chainflip
Bitget, a cryptocurrency exchange, suffered a security breach in which funds were stolen. According to blockchain analytics tool MistTrack_io, the stolen funds were laundered through CoW Protocol orders routed to Chainflip deposit contracts before being swapped into Bitcoin (BTC). The laundering process was automated and used pre-defined recipient addresses on CoW Protocol to feed Chainflip for seamless conversion.
The script tracked by MistTrack_io shows that the transaction 0xae6b1153446a05db7123e94ed5e2de828a2f9f5dc4802429a77ba88fc2497b0a was used to execute the order on CoW Protocol, and subsequent swap 1861124 converted the funds into BTC.
The current market conditions for Bitcoin (BTC) are also being monitored by analysts. As of now, the price of BTC is $83425.88, sitting below its EMA50 at $83490.59. The Relative Strength Index (RSI) holds a neutral value of 46.74, while the Moving Average Convergence Divergence (MACD) prints a death cross at -170.07.
The price of BTC is expected to continue facing pressure toward its 200-EMA at $79434.71 before any potential relief in price prediction models.