Bitget Hackers Shift to Zcash as Laundering Route Gets Blocked

Bitget's hackers are turning to Zcash's privacy features after their $50 million laundering route got blocked.

On Wednesday, about 2,746 ZEC worth roughly $3.9 million was transferred into Zcash's Ironwood shielded pool through three transactions, according to on-chain activity flagged by blockchain investigator ZachXBT.

This represents about 15% of the 18,917 ZEC stolen from Bitget. The shift toward Zcash's privacy infrastructure follows attempts by the attackers to move substantially larger sums through cross-chain services.

NEAR Intents General Manager Alex Shevchenko said wallets connected to the Bitget theft attempted to process more than $50 million through the protocol, but its SHIELD risk system rejected most of those transactions before execution.