Hupzy (Spot On Chain)|Sep 28, 2026 07:36
๐จ The wallet behind the $๐ฏ๐ฑ๐ญ.๐ฒ๐ Bitget exploit is actively swapping stolen ETH into BTC through THORChain โ converting illiquid stolen assets into a more portable store of value.
๐๐๐ฝ๐๐ ๐๐ฎ๐ธ๐ฒ: This is one of the largest exploits of 2026. The active ๐๐ง๐-๐๐ผ-๐๐ง๐ swap is a concrete short-term sell signal for ETH, though magnitude relative to daily volume limits direct price impact. The actionable angle is tracking the wallet for BTC movements that signal exchange deposits or further distribution.
ETH faces near-term sell pressure from stolen-asset liquidation. BTC absorbs the incoming flow passively โ the real risk is when those BTC reach an exchange for cash-out.
Arkham: http://arkm.com/explorer/address/0xf7bC92103F23EF312658CD9b81dc2713f7b396C3
source: lookonchain
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