Onchain data shows hackers moving stolen funds to Zcash

On-chain investigators have identified additional suspected stolen cryptocurrency moving into Zcash (ZEC), with funds reportedly linked to three separate security incidents involving Bitget, Cryptobills Ledger and Triple-A. In an October 17 post on X, blockchain analyst Specter reported that funds associated with the Cryptobills Ledger incident and the $12 million Triple-A exploit had entered Zcash, following earlier findings by investigator ZachXBT concerning assets stolen from Bitget. The latest allegations concern the movement of stolen cryptocurrency into a privacy-focused network that allows users to conceal certain transaction details. However, Specter did not publicly provide a complete transaction trail or establish how much money from the two additional incidents had entered ZEC.

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