The wallet linked to the 2023 Balancer exploit — which drained nearly $120 million — has gone active again after five months of dormancy, raising fresh alarms across on-chain security monitors.
Within the past hour, the exploiter moved 1,100 ETH (approximately $2.55M) and began routing it through THORChain to convert the funds into Bitcoin, a cross-chain path that complicates tracing and potential asset freezes.
The activity is a reminder that stolen funds rarely disappear — they resurface when exploiters judge market or monitoring conditions to be favourable. On-chain analysts and protocol teams are watching the wallet closely for further movements.
Original content
The Balancer exploiter, who stole nearly $120M, is active again after 5 months and is laundering funds by swapping $ETH into $BTC through THORChain.
Over the past hour, the exploiter moved 1,100 $ETH ($2.55M) and is converting it into $BTC.
https://t.co/E1b8eZbWLb https://t.co/ORfzNEFmeE
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