🛡 Three hours — that is all investigators had after the Bitget hack
Chainalysis has laid out how the $387 million stolen from the exchange on September 24 moved. The firm attributes the attack to a group linked to North Korea.
What the trace showed
• in the first three hours the funds left in 23 transfers across four chains: Ethereum 49.7%, XRP 40.8%, Zcash 7.6%, Tron 1.8%
• the stolen XRP never went to an exchange — it was pushed through a cross-chain liquidity protocol and came out as bitcoin
• manual bridge reconciliation would have taken over 20 hours; automation did it in under 10 minutes
Labels on the stolen addresses reached exchanges and law enforcement only after the money was already spread across four chains. Keep on an exchange what you are prepared to lose overnight, and hold the rest in a wallet whose keys are yours.
#security
🔗 My channels: Youtube • X • Site
Chainalysis has laid out how the $387 million stolen from the exchange on September 24 moved. The firm attributes the attack to a group linked to North Korea.
What the trace showed
• in the first three hours the funds left in 23 transfers across four chains: Ethereum 49.7%, XRP 40.8%, Zcash 7.6%, Tron 1.8%
• the stolen XRP never went to an exchange — it was pushed through a cross-chain liquidity protocol and came out as bitcoin
• manual bridge reconciliation would have taken over 20 hours; automation did it in under 10 minutes
Labels on the stolen addresses reached exchanges and law enforcement only after the money was already spread across four chains. Keep on an exchange what you are prepared to lose overnight, and hold the rest in a wallet whose keys are yours.
#security
🔗 My channels: Youtube • X • Site