Bitget's $387.5M Exploit: Who Helped The Hackers And Who Blocked Them? đšđ
Attackers drained roughly $387.5M across 8 chains by spoofing internal signatures. Cold vaults stayed untouched, with user balances covered by Bitget's $464M protection fund. đĄïžđŒ
Tracing the stolen money reveals a stark clash between permissionless swaps and on-chain defense: âïžđ
đč Over $6.3M in $ETH was swapped to 75.2 $BTC on THORChain across 27 trades. THORChain refused Bitget's blacklist request, citing its permissionless design.
đč Swapped Bitcoin was immediately routed into Wasabi Wallet for CoinJoin mixing (pooling transfers to break transaction history).
Defenders also intercepted critical transfer paths: đâĄ
đž NEAR Intents SHIELD system blocked over $50M in laundering volume, successfully freezing $503,000 mid-execution.
đž Centralized stablecoin issuers Tether and Circle froze roughly $318,000 in tagged addresses.
About $821,000 is frozen in total, but native coins continue moving on-chain. đđ
Are you keeping funds on Bitget or withdrawing? đ
#CryptoSecurity #Bitget #DeFi #Blockchain
Attackers drained roughly $387.5M across 8 chains by spoofing internal signatures. Cold vaults stayed untouched, with user balances covered by Bitget's $464M protection fund. đĄïžđŒ
Tracing the stolen money reveals a stark clash between permissionless swaps and on-chain defense: âïžđ
đč Over $6.3M in $ETH was swapped to 75.2 $BTC on THORChain across 27 trades. THORChain refused Bitget's blacklist request, citing its permissionless design.
đč Swapped Bitcoin was immediately routed into Wasabi Wallet for CoinJoin mixing (pooling transfers to break transaction history).
Defenders also intercepted critical transfer paths: đâĄ
đž NEAR Intents SHIELD system blocked over $50M in laundering volume, successfully freezing $503,000 mid-execution.
đž Centralized stablecoin issuers Tether and Circle froze roughly $318,000 in tagged addresses.
About $821,000 is frozen in total, but native coins continue moving on-chain. đđ
Are you keeping funds on Bitget or withdrawing? đ
#CryptoSecurity #Bitget #DeFi #Blockchain
