1d ago

Coldcard hacker swaps stolen Bitcoin for ETH via THORChain, moving about 10% of funds

AI Market Summary

The Coldcard-related hacker has begun actively disposing of stolen BTC by swapping into ETH via THORChain, with ~10% already moved. This transition from dormant theft to on-chain liquidation raises near-term sell-pressure and flow volatility for BTC and associated cross-chain liquidity venues, while also increasing attention on THORChain-mediated swaps as a laundering vector and potential compliance focal point.

Impact level

● Medium

Affected assets

BTC/USDT-1.60%

AI Insight · BTC/USDTAI Insight

▼ Bearish

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In the Coldcard wallet-related hack, the attacker has started using the cross-chain protocol THORChain to swap stolen Bitcoin for Ether. About 10% of the stolen funds have been moved so far. The shift indicates the stolen assets have entered an active disposal phase. This could affect short-term supply and demand for the related tokens.

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