After NEAR Rejects $50M, Bitget Hacker Uses Zcash Privacy Pool
Bitget Hacker Turns to Zcash Privacy Pool After Near Rejects $50M in Swaps
The attacker linked to the Bitget hack has reportedly shifted to a Zcash privacy pool after the Near Protocol ecosystem rejected swap attempts involving nearly $50 million in funds.
Near’s refusal appears to have blocked the proposed conversions, prompting the hacker to seek an alternative route through Zcash, a cryptocurrency designed to support privacy-preserving transactions. Privacy pools can make the movement of digital assets more difficult to trace by limiting the visibility of transaction details.
The incident highlights the challenges facing exchanges, blockchain networks and investigators when stolen funds move across protocols. Rejecting suspicious swaps can disrupt an attacker’s efforts to convert or transfer assets, while privacy-focused tools may create additional obstacles for tracking the funds.
The case also underscores the importance of cooperation across the crypto industry. Exchanges, bridge operators and blockchain networks increasingly monitor transactions associated with hacks and may block or reject activity linked to identified wallets.
