- Wallets linked to Bitget’s $387.5 million hack moved about $3.9 million in Zcash into the cryptocurrency’s private payment system, making the funds harder to trace.
- Transaction records show that 2,746 ZEC entered Zcash’s Ironwood shielded pool in three transfers Wednesday, representing about 15 percent of the ZEC stolen in the Sept. 24 breach.
- Zcash’s shielded pool conceals senders, recipients and transfer amounts, though investigators may still use timing and transaction values to track funds returning to public addresses.
Wallets linked to Bitget’s $387.5 million hack moved about $3.9 million in Zcash into the cryptocurrency’s private payment system on Wednesday, making the stolen funds harder to follow as the exchange tries to recover them.
CoinDesk’s review of transaction records found that 2,746 ZEC entered Ironwood, Zcash’s newest shielded pool, in three transfers between 08:15 and 08:46 UTC.
Pseudonymous blockchain investigator ZachXBT first flagged the movements earlier Wednesday. The money came through two intermediary addresses funded by a wallet that Bitget identified as belonging to the attacker, he said, which received nearly 18,917 ZEC during the Sept. 24 breach.
Zcash offers both public and private payments. Investigators can see how much enters a shielded pool, but transfers inside it hide the sender, recipient and amount.
That makes it harder to connect a later withdrawal to the stolen coins, although timing and amounts can still provide clues when money returns to public addresses.
The three deposits represent about 15% of the stolen ZEC. Other proceeds have moved across blockchains through swap services: CoinDesk previously traced about $6.3 million in ether-to-bitcoin swaps through THORChain from one attacker-linked wallet. Those swaps left a public record of the incoming ether and outgoing bitcoin.
