ZachXBT Unveils Five Suspects Behind Bitget Hacking Incident
A recent hacking incident on Bitget has led to the theft of $387.5 million in cryptocurrency, and an on-chain researcher named ZachXBT claims to have identified five individuals involved in laundering the stolen funds.
According to ZachXBT, these individuals are residents of China who allegedly work for North Korean hackers. The analyst tracked their activity across several hacking incidents and noted that they used public Discord servers and Telegram channels to seek help with processing transactions.
ZachXBT published a list of pseudonyms associated with the alleged group members, including Cc, Jack, Melon, lolo/Marin, and HELP ME. The researcher also linked one of these individuals, lolo/Marin, to a previous attack on the Kelp DAO protocol that resulted in $292 million in damages.
The stolen assets are being moved through cross-chain bridges before being sent to mixers, making it difficult for authorities to track them down. ZachXBT provided an example of this process, citing a transfer of 4 BTC linked to Bitget, which was first sent to a Wasabi wallet and then converted to USDT.