Bitget Theft Funds Move Through CoW Protocol Before Bitcoin Conversion
Automated orders sent assets to prepared Chainflip deposit addresses, enabling cross-chain swaps into Bitcoin (BTC).
Funds tied to a Bitget theft moved through CoW Protocol and Chainflip as part of a conversion into Bitcoin (BTC), highlighting the use of automated cross-chain routing to move stolen crypto assets.
Automated scripts created orders on CoW Protocol and set pre-arranged Chainflip Deposit contract addresses as the recipients. After the orders were completed, the assets could be transferred across blockchains through Chainflip and exchanged for BTC.
The movement involved funds stolen from Bitget. No amount was provided for the assets involved.
CoW Protocol is a decentralized trading protocol that executes token swaps, while Chainflip supports cross-chain conversions between blockchain networks. The transactions connected the two systems in a route that moved the stolen assets toward Bitcoin.
