Crypto
Bitget Hacker Converts Stolen ETH to BTC via THORChain
The Bitget hacker has moved $351.6 million in funds from their wallet on Ethereum to Bitcoin via THORChain, a decentralized cross-chain liquidity protocol.
This development is significant as it allows the hacker to convert their stolen ETH into BTC, which is more difficult to freeze or track.
The wallet associated with the Bitget hack, address 0xf7bC92103F23EF312658CD9b81dc2713f7b396C3, has been swapping ETH for BTC through THORChain since September 28, 2026.
On-chain security analysts believe this is a deliberate attempt to launder the stolen funds by moving them into an asset that is more portable and historically harder to freeze.