Bitget Hackers Transfer $4 Million into Zcash’s Private Pool
- Wallets associated with Bitget’s $387.5 million hack moved approximately $3.9 million in zcash (ZEC) into Ironwood, a private payment system.
- A total of 2,746 ZEC was transferred in three transactions between 08:15 and 08:46 UTC on Wednesday.
- The funds were routed through two intermediary addresses linked to the attacker’s wallet, which had received nearly 18,917 ZEC during the breach on September 24.
- Zcash allows both public and private transactions, making it difficult for investigators to trace funds once they enter the shielded pool.
The movement of these funds complicates recovery efforts as they become obscured within the private payment system of Zcash. Investigators can see amounts entering Ironwood but cannot track movements within it without further data.
This situation highlights the challenges in tracing illicit cryptocurrency movements, particularly with $3.9 million now hidden in Zcash’s private pool.(Source)
