Hackers move stolen funds from Ledger, Bitget into Zcash shielded pools: Is ZEC at risk?

Hackers are increasingly leveraging Zcash to launder stolen crypto. According to renowned Web3 security researcher Specter, stolen funds from the recent Ledger supply chain attack and $12M from a payment firm, Triple-A, have been moved to a Zcash shielded pool. Threat actors are actively using ZEC to move stolen funds. Stay smart. In late September, Zachary Wolk, another popular security researcher and investigator going by ZachXBT on X, flagged North Korea’s threat actors' use of Zcash. Wolk found that out of the $28.3M ZEC from the Bitget exploit, the hackers moved about $4M into Ironwood’s shielded pool. In fact, Wolk cast doubt on Zcash's prior virtue signaling and slammed, One of the arguments used by competing privacy projects was that threat actors do not use ZEC, thus XYZ is better.

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