Wallets linked to the Bitget cryptocurrency hack transfer about $3.8–$4 million worth of Zcash (ZEC) into Ironwood, Zcash’s latest shielded privacy pool. The transfers include three transactions that push roughly 2,746 ZEC through intermediate wallets, with accounts indicating about 15% of the stolen ZEC ends up inside the pool. Because Ironwood is designed to obscure transaction details, the funds become harder to trace on-chain.
The outlets describe this as part of the attackers’ effort to move and conceal proceeds after failed attempts to swap or route funds. Decrypt reports the attacker shifts to Zcash privacy following a rejection of large swaps connected to the heist. NDTV similarly notes that other funds are moved across blockchains using swap services, while CoinDesk focuses on the specific move into the privacy pool and its tracing implications. The reports collectively differ mainly in emphasis—some highlight the concealment mechanism, while others stress the trigger event and the swap context.
