crypto
Bitget Hacker Swaps $6.3M ETH for Bitcoin After THORChain Rejects Freeze
A wallet linked to the Bitget hacker exchanged approximately $6.3 million in ETH for Bitcoin via THORChain, after the network rejected a freeze request.
A wallet associated with the Bitget hacker has converted an estimated $6.3 million in ETH into Bitcoin using THORChain. This action follows THORChain's rejection of an exchange request to freeze addresses connected to the September 24 breach, according to a CoinDesk review of THORChain activity.
The movement of funds by the Bitget hacker highlights ongoing challenges in asset recovery and decentralized network governance within the broader crypto market news landscape. While exchanges often seek to mitigate losses by requesting freezes on stolen assets, the decentralized nature of some protocols can complicate such efforts.
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