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Where $388 Million Went: The Path Stolen Exchange Funds Actually Take
A theft is one step; hiding it is five. Following roughly $388 million of stolen exchange funds through a split into twenty-three transactions, a cross-chain swap out of the stolen asset, a spread across four networks chosen for liquidity, cost, concealment and stablecoin depth, and an exit that is the only hop needing a willing human on the other side. -
Crypto’s Security Bill Came Due This Week: Bitget, KelpDAO, Zano and Magic Eden
Four security failures in seven days - Bitget's 387.5M dollar wallet breach, KelpDAO's lawsuit against LayerZero, Magic Eden's rescued NFTs and Zano's month-long rollback - share one root cause: guarantees kept in processes instead of protocol invariants.- 21
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