Three transfers moved approximately 15% of the stolen ZEC into Ironwood, concealing both the payer, the payee, and the amount involved.
On Wednesday, wallets related to the $38.75 million hacker attack involving Bitget transferred approximately $3.9 million of Zcash to the private payment system of this cryptocurrency, making it more difficult to track these stolen funds.
Transaction records show that 2,746 ZEC coins entered the Ironwood shielding pool of Zcash through three transfers on Wednesday, accounting for approximately 15% of the ZEC coins that were stolen in the vulnerability on September 24th.
The blocklist pool of Zcash will hide the sender, recipient, and transfer amount, but investigators may still be able to trace the flow of funds by the time point and transaction amount when the money returns to a public address.
On Wednesday, wallets related to the $38.75 million hacker attack involving Bitget transferred approximately $3.9 million of Zcash to the private payment system of that cryptocurrency, making it more difficult for exchanges to trace these funds when attempting to recover them.
Upon reviewing the transaction records, it was found that 2,746 ZEC entered Ironwood in three batches between 08:15 and 08:46 UTC. This is the latest block in the Zcash shielding pool.
Pseudonymously known as Blockchain Investigator ZachXBT, on Wednesday earlier, he first identified these transfers. He stated that the funds flowed through two intermediate addresses, which Bitget identified as belonging to the attacker's wallet that provided the funding; this wallet received nearly 18,917 ZEC on September 24 due to a vulnerability.
Zcash Provides both public and private payments. Investigators can see how much funds enter the shielding pool, but transfers within the pool will hide the sender, recipient, and amount.
This makes it more difficult to correlate subsequent withdrawals with the stolen tokens. However, when the funds return to a public address, the time and amount may still provide clues.
These three deposits account for approximately 15% of the ZEC that was stolen. The remaining earnings were transferred across chains through exchange services: CoinDesk previously tracked about 6.3 million US dollars in Ether from a wallet associated with the attackers being exchanged for Bitcoin via THORChain. These exchanges left public records of the inflow of Ether and the outflow of Bitcoin.
For further reading:THORChain Rejects Bitget's Request to Stop Hackers from Transferring Approximately 6 Million US Dollars into Bitcoin (This Article is Dynamically Updated)
