They hacked a Coldcard and now they’re laundering the loot 🚨
A BTC exploiter who had been accumulating stolen Bitcoin has just moved nearly 10% of those funds via THORChain, converting everything into Ethereum. On-chain investigators have already tracked the assets to a new ETH wallet and are continuing to follow the trail in real time. These kinds of moves aren’t random: the hacker chose THORChain specifically for its decentralized nature and lack of KYC, which makes authority intervention extremely difficult. The case is still open and the funds are still in motion.
In my opinion, this will put renewed pressure on decentralized swap protocols, which sometimes end up in the spotlight when they appear as a laundering tool. I don’t rule out some point-in-time volatility in related assets if this gains more media attention.
To what extent is decentralization a virtue, and when does it become a problem that ends up harming the entire ecosystem?
$BTC $ETH $RUNE
💎 Premium signals + analysis in my VIP Chat profile — one-time payment of 12 USDT, lifetime access. Join here 👇
A BTC exploiter who had been accumulating stolen Bitcoin has just moved nearly 10% of those funds via THORChain, converting everything into Ethereum. On-chain investigators have already tracked the assets to a new ETH wallet and are continuing to follow the trail in real time. These kinds of moves aren’t random: the hacker chose THORChain specifically for its decentralized nature and lack of KYC, which makes authority intervention extremely difficult. The case is still open and the funds are still in motion.
In my opinion, this will put renewed pressure on decentralized swap protocols, which sometimes end up in the spotlight when they appear as a laundering tool. I don’t rule out some point-in-time volatility in related assets if this gains more media attention.
To what extent is decentralization a virtue, and when does it become a problem that ends up harming the entire ecosystem?
$BTC $ETH $RUNE
💎 Premium signals + analysis in my VIP Chat profile — one-time payment of 12 USDT, lifetime access. Join here 👇