Galaxy Research researchers tracked the third wave of Coldcard wallet attackers using THORChain to swap approximately 179 BTC (10% of stolen funds) into Ethereum. The attackers began moving funds on September 3 but faced multiple failed transactions and refunds. About 90% of the stolen funds remain in original addresses, with new Ethereum addresses shared with law enforcement.
Coldcard Attackers Move Stolen Bitcoin via THORChain
Researchers at Galaxy Research have tracked the third wave of attackers behind the Coldcard wallet exploit using THORChain to swap a portion of the stolen Bitcoin into Ethereum. The attackers moved approximately 179 BTC, representing about 10% of the total stolen funds, the firm said.
The transfer activity began on September 3, though the attackers encountered multiple failed transactions leading to refunds. Galaxy Research previously confirmed the vulnerability resulted in the theft of 1,789.28 BTC, worth around $114.7 million at the time, affecting 8,865 addresses.
As of now, roughly 90% of the stolen funds remain in the original addresses. The researchers have shared the newly identified Ethereum addresses with law enforcement agencies and relevant crypto firms for monitoring.
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