MarketsBitget hackers transfer $4 million to Zcash’s private pool, obscuring tracing of funds.
Three transactions moved around 15% of the stolen ZEC into Ironwood, concealing details of senders, recipients, and amounts.
By Shaurya Malwa|Edited by Oliver KnightUpdated Sep 30, 2026, 7:16 a.m. EDTPublished Sep 30, 2026, 7:04 a.m. EDT1 min read
Wallets associated with the $387.5 million hack of Bitget have funneled approximately $3.9 million in zcash (ZEC) into the cryptocurrency's private payment system, complicating the recovery efforts for the stolen funds.
Transaction analysis by CoinDesk revealed that 2,746 ZEC were transferred into Ironwood, Zcash’s latest shielded pool, across three transactions on Wednesday, occurring between 08:15 and 08:46 UTC.
ZachXBT, a pseudonymous blockchain investigator, was the first to identify these transactions on Wednesday. He noted that the funds passed through two intermediary addresses which were funded by a wallet recognized as belonging to the attacker, who had received nearly 18,917 ZEC during the September 24 breach.
Zcash allows for both public and private transactions. While the amount entering Ironwood is visible, the transfers within the shielded pool conceal the sender, recipient, and amount.
If the funds subsequently return to a public address, the exit amount becomes accessible again. Investigators can analyze the timing, amounts, and other metadata to correlate entries and exits, though Zcash does not provide a direct transaction trail linking them.
The three deposits account for about 15% of the stolen ZEC. Other portions of the stolen funds have been moved across blockchains via swap services. CoinDesk previously tracked about $6.3 million in ether-to-bitcoin swaps through THORChain from one wallet linked to the attacker. These swaps left a public record of the incoming ether and outgoing bitcoin.
Read More: THORChain rejects Bitget request to block hacker as $6 million moves to bitcoin
(This is a developing story.)
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Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
By CoinDesk ResearchSep 24, 2026Commissioned byRealFi
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
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