Overview
- The theft occurred on January 10 and drained roughly 1,459 BTC and about 2.05 million LTC from a single holder, according to ZachXBT.
- Large portions of the funds were converted into Monero via instant exchanges, while Bitcoin was bridged through THORChain to Ethereum, Ripple and Litecoin to obfuscate flows.
- Monero’s price surged to a new all-time high near $800 as the conversion pressure intensified, before later pulling back.
- Cybersecurity firm ZeroShadow said roughly $700,000 in assets were flagged and frozen before full conversion into privacy coins.
- ZachXBT linked the incident to a broader early-January wallet-draining campaign and reported no indicators of state-backed involvement.