Bitget Hackers Move Stolen Funds to Zcash Privacy Pool After Near Intents Rejects $50M Swap

Hackers behind the $387.5 million Bitget theft have begun moving approximately 2,700 ZEC, worth about $3.8 million, into the Ironwood shielded pool on the Zcash network. While Near Intents blocked over $50 million in related swap requests, Thorchain continued to process transactions, citing its decentralized nature. Bitget CEO Gracy Chen noted that the attack, which involved unauthorized backend transactions rather than private key theft, is suspected to be linked to North Korean actors. Bitget has offered a 5% bounty for the recovery of frozen or retrieved funds.