IoTeX Hacker Converts Stolen Funds to ETH, Now Exchanging via Thorchain to BTC

Attack Incident Overview

According to security monitoring, IoTeX's cross-chain bridge suffered a major security incident due to private key leakage, resulting in over $8 million in cryptocurrency assets stolen. This event has attracted widespread attention in the blockchain security field.

Fund Flow Tracking

Currently, the attacker has converted all stolen assets into ETH and has begun exchanging ETH to BTC via Thorchain in batches. This multi-chain asset transfer pattern demonstrates high concealment.

Industry Warning

• Private key management remains the core issue in blockchain security
• Cross-chain protocols face new attack patterns
• Asset exchange channels become key paths for money laundering

This incident serves as a security alarm for the entire blockchain industry. It is recommended that all project parties strengthen security audits and key management mechanisms.