TREE NEWS reports: The third-wave Coldcard exploiter moved about 10% of stolen funds through THORChain, as researchers traced the assets to a new Ethereum address. The transfer marks a notable laundering step in the ongoing incident.
Coldcard hacker swaps stolen Bitcoin for ETH via THORChain
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AI take
The move to convert a slice of stolen Bitcoin into Ethereum via THORChain signals a deliberate effort to break the traceability chain, given Bitcoin's transparent ledger versus Ethereum's more complex tracking surface. This matters because it shows attackers are adapting to cross-chain liquidity tools to obscure fund flows, which complicates recovery efforts for victims and exchanges monitoring the incident. The open question is whether the remaining 90% follows a similar path or if the split indicates a strategy to test liquidity routes before larger movements.
Generated by AI for reference only.
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