Bitget Hacker Moves Stolen Funds for First Time Since Breach

The wallet linked to the Bitget hack has made its first major transaction move since the September 24 security breach.

On-chain trackers identified a key address associated with the attacker transferring Ethereum (ETH) into THORChain vaults and rapidly converting the assets into Bitcoin (BTC).

This marks a significant development in efforts to track and recover the stolen assets, which initially estimated at around $351.6 million have been revised upwards to approximately $387.5 million.

The attacker has sent ETH to THORChain in multiple transactions, often in batches of 100 ETH, before swapping the funds for BTC through the decentralized cross-chain protocol.