Breaking news! Bitget was hacked, with losses amounting to approximately $351.6 million. The hacker has already converted the funds into 67,982 ETH, worth 1.3 billion RMB. Why didn’t the hacker convert the stolen funds into BTC!? ① Efficiency of laundering: ETH has a mature DeFi/DEX ecosystem, allowing for quick, large-scale exchanges without KYC. Mixers can also seamlessly break on-chain links. On the other hand, large BTC transfers are easier to track. ② Difficulty of tracing: BTC’s UTXO model provides clear traceability for every transaction, while ETH’s account model + contract interactions make fund flows more obscure. After multiple operations, the traceability chain breaks. ③ Market absorption: The ETH market has sufficient depth, so hackers selling won’t easily trigger drastic price swings or regulatory attention. In contrast, large BTC OTC trades are slow to match, and buyers face high compliance risks, making cash-out paths more exposed. In simple terms: ETH is the highway for laundering, while BTC is the safe for long-term holding.