[ZachXBT exposes Bitget’s $387 million vulnerability-related funds allegedly laundered]
On-chain sleuth ZachXBT has found that a group of illicit actors is helping suspected North Korean attackers launder funds, with the source traced back to Bitget’s earlier $387 million vulnerability exploitation.
These money launderers are currently seeking order support via public Discord servers and Telegram channels. ZachXBT notes that one of the involved accounts (Alias 4) was also previously identified laundering stolen funds from this year’s Kelp DAO $292 million breach.
This pattern shares the same characteristics as multiple attacks attributed to TraderTraitor. At present, the funds are being routed on-chain via cross-chain bridges and deposited into mixing services such as Wasabi. ZachXBT plans to share more data in the coming weeks.
This incident shows that cryptocurrency security breaches not only cause asset losses, but also directly connect to money-laundering activities by nation-state or quasi-state hacker groups. It may prompt regulators to impose even stricter compliance pressure on relevant exchanges and mixing services. Continued attention is needed on Bitget’s progress in judicially追回ing the vulnerability-related funds, as well as the specific on-chain paths and the scale of the entities involved that ZachXBT discloses next.
On-chain sleuth ZachXBT has found that a group of illicit actors is helping suspected North Korean attackers launder funds, with the source traced back to Bitget’s earlier $387 million vulnerability exploitation.
These money launderers are currently seeking order support via public Discord servers and Telegram channels. ZachXBT notes that one of the involved accounts (Alias 4) was also previously identified laundering stolen funds from this year’s Kelp DAO $292 million breach.
This pattern shares the same characteristics as multiple attacks attributed to TraderTraitor. At present, the funds are being routed on-chain via cross-chain bridges and deposited into mixing services such as Wasabi. ZachXBT plans to share more data in the coming weeks.
This incident shows that cryptocurrency security breaches not only cause asset losses, but also directly connect to money-laundering activities by nation-state or quasi-state hacker groups. It may prompt regulators to impose even stricter compliance pressure on relevant exchanges and mixing services. Continued attention is needed on Bitget’s progress in judicially追回ing the vulnerability-related funds, as well as the specific on-chain paths and the scale of the entities involved that ZachXBT discloses next.