$BTC Coldcard Hacker Swaps 10% of Stolen Bitcoin for ETH via THORChain
The attacker linked to the third wave of the Coldcard wallet exploit has begun swapping approximately 10% of the stolen Bitcoin for Ethereum via THORChain.
๐ธ 1,789 BTC (valued at around $114.7 million) was stolen from 8,865 addresses due to a 2021 firmware vulnerability, with 90% of the funds remaining in the original wallets.
๐ธ The attacker encountered technical issues while swapping via THORChain, facing repeated transaction reversals and the need for multiple retries.
๐ธ Analysts traced the $ETH to a new Ethereum address and shared the information with law enforcement, hoping to halt the money laundering process.
๐ This marks the first time funds from the original addresses involved in the three waves of Coldcard attacks have been moved on-chain. Using THORChain to swap BTC for ETH was a tactic intended to complicate tracking; however, technical difficulties slowed the process and led to its detection. The incident highlights the risks associated with hardware wallet seed generation vulnerabilities and underscores the importance of migrating assets to a new seed after patching the flaw.
๐ฌ Do you think THORChain will face stricter scrutiny following this incident?
News is for reference, not investment advice. Please read carefully before making a decision.
$RUNE
The attacker linked to the third wave of the Coldcard wallet exploit has begun swapping approximately 10% of the stolen Bitcoin for Ethereum via THORChain.
๐ธ 1,789 BTC (valued at around $114.7 million) was stolen from 8,865 addresses due to a 2021 firmware vulnerability, with 90% of the funds remaining in the original wallets.
๐ธ The attacker encountered technical issues while swapping via THORChain, facing repeated transaction reversals and the need for multiple retries.
๐ธ Analysts traced the $ETH to a new Ethereum address and shared the information with law enforcement, hoping to halt the money laundering process.
๐ This marks the first time funds from the original addresses involved in the three waves of Coldcard attacks have been moved on-chain. Using THORChain to swap BTC for ETH was a tactic intended to complicate tracking; however, technical difficulties slowed the process and led to its detection. The incident highlights the risks associated with hardware wallet seed generation vulnerabilities and underscores the importance of migrating assets to a new seed after patching the flaw.
๐ฌ Do you think THORChain will face stricter scrutiny following this incident?
News is for reference, not investment advice. Please read carefully before making a decision.
$RUNE
