Bitget Hackers Use Zcash Privacy Pools to Launder Stolen Funds Amid Decentralization Debate

The Bitget hack, which saw $387.5 million stolen on September 24, has taken an interesting turn as hackers attempt to launder their funds through various means.

According to ZachXBT, an on-chain investigator, the attackers have begun transferring approximately 2,700 ZEC, worth around $3.8 million, to Ironwood, a shield pool on the privacy-focused blockchain Zcash.

This move allows the hackers to encrypt the sender, receiver, and transaction amount, making it difficult for investigators to track the funds' destination.

Near Intents has refused to process swap requests linked to the Bitget attackers, while Thorchain continues to permit them on the grounds of 'decentralization.'