Bitget Hack: THORChain Under Scrutiny for Role in Laundering Stolen Funds

Following the theft of approximately $387.5 million from Bitget on September 24, investigators are examining the use of THORChain to launder proceeds. Attackers manipulated backend wallet infrastructure to authorize unauthorized transfers, with outflows continuing for nearly three hours. While most stolen assets remain dormant in inactive addresses, including 68,300 ETH, attackers have used THORChain to swap BNB and TRX into approximately 126.71 BTC. Bitget stated that its private keys were not compromised and suspects involvement from a North Korea-linked threat cluster.