A wallet tied to the $387.5 million Bitget theft moved 2,746 ZEC into Zcash’s Ironwood privacy pool in three transactions on Wednesday, according to Odaily, citing CoinDesk. The transfer was valued at about $3.9 million based on the figures in the report. The amount represents roughly 15% of the ZEC stolen on Sept. 24. CoinDesk said Ironwood can conceal the sender, recipient, and transfer amount, making the funds harder to trace on the public ledger. Even so, investigators may still be able to follow the path of the assets if they later return to transparent addresses, using transaction timing and amounts as clues. The move adds a new on-chain development to the Bitget theft case and shows how privacy features can complicate fund tracking without making tracing impossible.
A wallet linked to the $387.5 million Bitget theft sent 2,746 ZEC into Zcash’s Ironwood privacy pool in three transactions on Wednesday, according to Odaily, citing CoinDesk. The transfers were worth about $3.9 million.
The transfer accounted for about 15% of the stolen ZEC
CoinDesk said the batch represented roughly 15% of the ZEC stolen on Sept. 24.
Ironwood obscures key transaction details
The report said Ironwood can hide the sender, the recipient, and the transfer amount. Investigators may still be able to trace the funds if they move back to public addresses, using transaction timing and amounts to map that path.
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