🚨 Coldcard hackers have started taking action!
The first stolen BTC has been swapped into ETH via THORChain, and the remaining 90% of the funds still haven’t moved!
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The Coldcard hackers’ funds have finally begun to show clear activity.
Galaxy Research director Alex Thorn revealed that the hackers involved in the third wave of Coldcard attacks have started exchanging some of the stolen BTC into ETH via THORChain.
So far, about 10% of the funds have been transferred, while roughly 90% remains unmoved.
This is also the first time since the three waves of attacks that funds have been observed moving out from the original hacker address. ⚠️
What’s even more interesting is that this time the funds aren’t simply sent to an exchange.
On-chain analysis shows the attackers attempted to perform a cross-chain exchange through THORChain, converting BTC into ETH. But the process doesn’t seem to go smoothly.
Some transactions keep getting returned, forcing the hacker to try repeatedly. In the end, the on-chain analyst tracked the funds into a new Ethereum address.
What does this mean?
At the very least, it indicates the attacker has begun trying to change the on-chain form and transaction path of the stolen assets.
And this is exactly what the security team is paying the most attention to right now. Because once BTC is cross-chain converted into other assets, and then further split and transferred across multiple addresses, the difficulty of subsequent tracking may increase even more. However, it’s still not possible to determine what the hacker will do next.
They may continue with cross-chain operations, or they may try transferring assets in other ways.
Previously, Coldcard-related attacks were already believed to have caused large-scale BTC losses.
Galaxy Research linked the vulnerability to losses involving at least 1,789 BTC, sourced from 8,865 addresses, at the time worth about $114.7 million.
And this isn’t the first time the hackers have tried to hide funds.
Earlier, some BTC and ETH related to the attacks were deposited into crypto mixing services.
So this time, the funds becoming active again is a very important signal for the on-chain security team. 👀
Click the avatar to join the Jiujiu chat group for daily strategies 🚀
#BTC #Coldcard #THORChain
The first stolen BTC has been swapped into ETH via THORChain, and the remaining 90% of the funds still haven’t moved!
Group: 点击进入玖玖的粉丝群
The Coldcard hackers’ funds have finally begun to show clear activity.
Galaxy Research director Alex Thorn revealed that the hackers involved in the third wave of Coldcard attacks have started exchanging some of the stolen BTC into ETH via THORChain.
So far, about 10% of the funds have been transferred, while roughly 90% remains unmoved.
This is also the first time since the three waves of attacks that funds have been observed moving out from the original hacker address. ⚠️
What’s even more interesting is that this time the funds aren’t simply sent to an exchange.
On-chain analysis shows the attackers attempted to perform a cross-chain exchange through THORChain, converting BTC into ETH. But the process doesn’t seem to go smoothly.
Some transactions keep getting returned, forcing the hacker to try repeatedly. In the end, the on-chain analyst tracked the funds into a new Ethereum address.
What does this mean?
At the very least, it indicates the attacker has begun trying to change the on-chain form and transaction path of the stolen assets.
And this is exactly what the security team is paying the most attention to right now. Because once BTC is cross-chain converted into other assets, and then further split and transferred across multiple addresses, the difficulty of subsequent tracking may increase even more. However, it’s still not possible to determine what the hacker will do next.
They may continue with cross-chain operations, or they may try transferring assets in other ways.
Previously, Coldcard-related attacks were already believed to have caused large-scale BTC losses.
Galaxy Research linked the vulnerability to losses involving at least 1,789 BTC, sourced from 8,865 addresses, at the time worth about $114.7 million.
And this isn’t the first time the hackers have tried to hide funds.
Earlier, some BTC and ETH related to the attacks were deposited into crypto mixing services.
So this time, the funds becoming active again is a very important signal for the on-chain security team. 👀
Click the avatar to join the Jiujiu chat group for daily strategies 🚀
#BTC #Coldcard #THORChain
