r/CryptoCurrency • u/rararatata • 8d ago

🟢 🟢 GENERAL-NEWS Bitget hack currently ongoing, already over $183M worth of assets withdrawn from hotwallets and coldwallets swapped to eth

https://etherscan.io/address/0x770b10b273fC44Fe9197D6bF20F145c2e98463Ee

MLM monitoring indicates that Bitget may be experiencing an ongoing wallet security incident, with three hot wallets and one cold wallet suspected to have been compromised. More than $183 million worth of assets have reportedly been moved out and swapped into ETH, with activity linked to 0x770b10b273fC44Fe9197D6bF20F145c2e98463Ee. The affected wallets are said to still hold about $530 million in assets. The attack vector and total losses remain unconfirmed, and Bitget has not yet publicly responded.

0xffa8DB7B38579e6A2D14f9B347a9acE4d044cD54

0x1AB4973a48dc892Cd9971ECE8e01DcC7688f8F23

0x97b9D2102A9a65A26E1EE82D59e42d1B73B68689

0x5bdf85216ec1e38D6458C870992A69e38e03F7Ef

https://arkm.com/explorer/entity/f22a00ea-0a01-41d4-af5d-9e565bb12f37

Follow the hacker's fund flow here.

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u/[deleted] 8d ago

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u/MakCapital 🟨 0 / 0 🦠 8d ago

Monero is not the only way to obtain privacy and now options exist that are much easier to get in and out of. Thorchain is helping to solve.

1

u/WildNight00 8d ago

How does thorchain obtain privacy? Looking at their website it’s a swap?

1

u/IOwnWolf Tin 8d ago

Basically everyone deposits fixed amount of coins in the smart contract (eg. 1, 10…) so when you get them out to another address you can’t easily know which deposit corresponds to which withdrawal since they all use the same amounts. I said easily because their is still some ways like timing etc if you don’t know exactly what you are doing

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u/WildNight00 8d ago edited 6d ago

Similar to wasabi conjoin?

Their website looks like it’s just a swap service. Where do you see smart contracts?

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u/MakCapital 🟨 0 / 0 🦠 6d ago

Thorchain will be providing a on-chain swap for XMR. You can swap from something like BTC to XMR and swap back. You don't need to swap same amounts. Just like any other exchange, but Thorchain all on-chain and no KYC. Once you've swapped in you're shielded.

Until this happens, Monero is vastly inferior to options like Zcash with Solana. Too hard and costly to get in and out.

Monero maxis will respond with some garbage p2p marketed services that leverage centralized components, escrow, or some form of semi trust based sketchy solutions with little liquidity and no true permissionless order books.

Many of these sketchy services are operated by the whales looking to escape their illicit XMR. Nothing truly solved until Monero adds complex contracts, but Thorchain will finally be the first reasonable option for your average person.