Balancer exploiter moves 1,100 ETH, swaps to BTC via THORChain
Five months after a ~$120M exploit, the Balancer attacker is back on-chain, swapping 1,100 ETH into BTC through THORChain's cross-chain router in under an hour.
Bitcoin (BTC) is the first decentralized cryptocurrency, introduced in 2009 by an individual or group operating under the pseudonym Satoshi Nakamoto. It runs on its own blockchain, the Bitcoin network, secured through a Proof of Work consensus mechanism in which miners use computing power to validate transactions and produce new blocks roughly every ten minutes. The protocol defines a hard cap of 21 million coins, and the block reward given to miners is automatically halved approximately every four years, embedding a predictable, disinflationary issuance schedule into the network. This scarcity, combined with permissionless access and resistance to censorship, has led many to characterize Bitcoin as a form of digital gold or a store of value distinct from traditional fiat currencies. Beyond peer-to-peer transfers, the Bitcoin ecosystem has expanded to include Ordinals, a method of inscribing data onto individual satoshis that enables NFT-like assets directly on the base layer, and BRC-20, an experimental fungible token standard built on those inscriptions. Emerging Bitcoin Finance (BTCFi) initiatives extend these capabilities further, allowing BTC to be used in staking, lending, and cross-chain security applications, positioning Bitcoin as a foundation for a broader decentralized financial ecosystem.
Five months after a ~$120M exploit, the Balancer attacker is back on-chain, swapping 1,100 ETH into BTC through THORChain's cross-chain router in under an hour.
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Bitcoin is the world's first decentralized cryptocurrency, created in 2009 by the pseudonymous Satoshi Nakamoto.
Bitcoin (BTC) launched on 2009-01-03.
Bitcoin (BTC) is categorised as: Smart Contract Platform, Layer 1 (L1), FTX Holdings.
The official Bitcoin site is http://www.bitcoin.org.
Most recent Bitcoin coverage: "Balancer exploiter moves 1,100 ETH, swaps to BTC via THORChain" — read at /en-US/a/balancers-120m-exploiter-resurfaces-laundering-eth-via.