Hackers Are Moving Stolen Crypto Into Zcash. Could That Hurt ZEC Before Its Upgrade Decision?
Investigators say multiple threat actors moved stolen funds through Zcash’s privacy tools, with about 2,700 ZEC traced into the shielded pool.
- On October 17, blockchain analyst Specter reported that stolen funds linked to Bitget, Cryptobills Ledger, and Triple-A security incidents have entered Zcash's Ironwood shielded pool.
- Bitget's September breach, estimated at approximately $387.5 million, prompted attackers to leverage Zcash's privacy technology, which can obscure transaction details from outside observers.
- Investigator ZachXBT previously identified approximately 18,900 ZEC, worth $28.3 million, associated with the Bitget incident, while Specter traced roughly 2,700 ZEC into Ironwood.
- Public records confirm deposit transactions into the shielded pool, yet the data does not necessarily reveal where funds move afterward, complicating asset recovery.
- Bitget continues working with security firms to track assets through recovery programs, while the Ironwood pool introduced in July remains available to all users.
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14 Articles
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BizTocHackers Are Moving Stolen Crypto Into Zcash. Could That Hurt ZEC Before Its Upgrade Decision?
Hackers are funneling millions in stolen crypto into Zcash's shielded pools, and with a major network upgrade vote days away, the question is whether the laundering activity reaches exchanges before developers can flip the switch.
Blockonomi
BITRSSZcash Shielded Pools Face Scrutiny Over Stolen Crypto Transfers
TLDR On-chain investigator Specter issued a warning on October 17 about stolen crypto flowing into Zcash. The warning covered funds tied to the Bitget breach and other reported security incidents. A September 30 trace found about 2,746 ZEC, worth roughly $3.9 million, moved into Zcash’s Ironwood shielded pool. Shielded transactions hide sender, recipient and amount [...]
Zcash Shielded Pools Draw Fresh Scrutiny After Stolen Crypto Transfers - Invest In Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR: Investigators have raised new concerns about stolen crypto flowing into Zcash, following earlier tracing of roughly 2,746 ZEC linked to the Bitget breach. Shielded transactions obscure details after entry, but do not prove that the underlying network has been compromised. Privacy […]
Onchain data shows hackers moving stolen funds to Zcash | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker - National Cyber Security Consulting
On-chain investigators have identified additional suspected stolen cryptocurrency moving into Zcash (ZEC), with funds reportedly linked to three separate security incidents involving Bitget, Cryptobills Ledger and Triple-A. Summary On-chain investigator Specter linked alleged stolen funds from three security incidents to Zcash transactions recently. ZachXBT traced approximately 2,700 ZEC into Zcash’s Ironwood shielded pool following the […] Than…
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