Bitget Hack Tracing Reveals Crypto Laundering Techniques

A handful of Bitcoin tied to one of this year’s biggest exchange breaches has surfaced inside a privacy tool built to make blockchain tracing nearly impossible. According to blockchain compliance firm AMLBot, the Bitget hack tracing effort has linked roughly 4 BTC from the September theft to a Wasabi CoinJoin transaction round, offering a rare look at how stolen crypto moves through multiple chains before attackers try to erase its trail.

Key takeaways

• AMLBot traced about 4 BTC from the Bitget hack into a Wasabi CoinJoin round, tying it back to a Bitget-linked TRON wallet.
• The stolen assets moved from TRX to USDT, bridged to Ethereum via USDT0, swapped into roughly 145 ETH, then routed through THORChain into about 4.59 BTC.
• AMLBot says it has blacklisted the addresses tied to this flow and continues monitoring the attacker’s Bitcoin for further CoinJoin activity.
• Bitget’s confirmed loss from the Sept. 24 breach was revised from an initial $351.6 million to approximately $387.5 million after investigators found additional Zcash and TRON assets.

Tracing of Stolen Funds from Bitget Hack

AMLBot’s tracing shows that funds from the Bitget breach didn’t stay in one place or on one blockchain. Instead, the assets hopped across networks and swapped forms repeatedly, a pattern the firm says was consistent with an attempt to obscure their origin. This kind of layered movement is common in large-scale crypto theft, but the level of detail AMLBot managed to reconstruct offers investigators — and the public — a clearer picture of how laundering attempts unfold in near real time.