ZachXBT Unveils Link Between Bitget and Kelp DAO Attacks

On-chain investigator ZachXBT has made a significant discovery linking the same operator to fund flows from two major cryptocurrency attacks. The operator, known by the pseudonym 'Alias 4,' allegedly helped launder funds stolen from Bitget, a crypto exchange that suffered an approximate $388 million attack earlier this year.

ZachXBT's investigation revealed a notable connection between the Bitget and Kelp DAO attacks, which took place in February. The Kelp DAO attack resulted in approximately $292 million in losses for investors.

According to ZachXBT's findings, the operator used cross-chain bridges and mixing services like Wasabi to move funds from the Bitget attack. This made it harder to track the connection between different transactions.

In a surprising twist, Chinese actors allegedly linked to North Korea openly sought help with transactions in Discord and Telegram channels associated with the services they used. ZachXBT noted that similar patterns had emerged after other attacks attributed to TraderTraitor.