Coldcard Hackers Begin Moving Stolen Bitcoin Through THORChain

Hackers linked to the third wave of Coldcard wallet thefts have begun moving stolen funds and converting Bitcoin into ETH through THORChain, according to Bitcoin News monitoring. According to ChainCatcher, Galaxy Research's Alex Thorn said about 10% of the stolen BTC has been transferred, while the remaining 90% has not been used. Thorn said the attacker appeared to face difficulties during the swaps, with multiple THORChain transactions being returned and retried. Researchers traced the related conversion activity to a new Ethereum address, which Thorn said has been shared with authorities and crypto companies. Galaxy Research said the broader Coldcard exploit has affected at least 8,865 addresses and resulted in losses of at least 1,789 BTC.