Bitget Hacker Moves $351.6M From ETH to BTC Through THORChain
Swapping ETH for BTC changes the stolen funds’ asset exposure while keeping the cross-chain movement in focus.
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.
Swapping ETH for BTC changes the stolen funds’ asset exposure while keeping the cross-chain movement in focus.
The phased restart follows a reported vulnerability fix, while Bitget's promised return of its Protection Fund to a $300M baseline remains a key confidence marker.
The broader risk-off tone sits alongside a Fear & Greed reading of 74, still in Greed, while Bitcoin dominance stands at 56.8%.
Hormuz oil flows have doubled to about 13 million barrels a day, but the ceasefire rejection keeps geopolitical risk in focus for Bitcoin traders.
1.7K $BTC (≈141.2M) moved from Coinbase Institutional to unknown wallet.
799 $BTC (≈66.5M) moved from unknown wallet to Coinbase Institutional.
615 $BTC (≈51.1M) moved from Coinbase Institutional to unknown wallet.
1.7K $BTC (≈141.5M) moved from unknown wallet to Coinbase Institutional.
614 $BTC (≈51.3M) moved from Coinbase Institutional to unknown wallet.
1.7K $BTC (≈141.9M) moved from Coinbase Institutional to unknown wallet.
1.7K $BTC (≈141.9M) moved from unknown wallet to Coinbase Institutional.
999 $BTC (≈83.5M) moved from unknown wallet to Coinbase Institutional.
The futures data shows positioning, not a complete view of investors’ Bitcoin holdings: leveraged funds may hedge spot or ETF exposure, which the report does not capture.
614 $BTC (≈51.3M) moved from Coinbase Institutional to unknown wallet.
1.7K $BTC (≈141.9M) moved from Coinbase Institutional to unknown wallet.
1.7K $BTC (≈140.7M) moved from unknown wallet to Coinbase Institutional.
999 $BTC (≈83.5M) moved from unknown wallet to Coinbase Institutional.
The 10-year Treasury yield sits at 5.20%, the highest since 2007, and crude rose on both sides of the Atlantic as traders brace for a data-heavy week of U.S. inflation, manufacturing and jobs prints.
4.5K $BTC (≈378.4M) moved from unknown wallet to unknown new wallet.
The key signal is whether quarter-end repo pressure persists above the Fed’s reserve rate and appears alongside weaker Bitcoin funding or spot flows.
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.
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