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Infini Hacker-Linked Wallet Converts 3,003 ETH to 87 WBTC Worth $5.89M

According to Onchain Lens, an Infini hacker-associated address converted Ethereum to Wrapped Bitcoin before transferring assets to another wallet, consistent with post-hack laundering techniques.

ETH
WBTC

Summary

On February 21, Onchain Lens observed a wallet linked to the Infini hack swap 3,003 ETH for 87 WBTC, valued at approximately $5.89 million with WBTC priced around $67,700. The funds were then transferred to another wallet, aligning with typical laundering patterns where stolen crypto is converted and moved to obscure origins.

Terms & Concepts
  • Wrapped Bitcoin (WBTC): A tokenized version of Bitcoin on the Ethereum network, pegged 1:1 with BTC to enable Bitcoin usage in Ethereum-based applications.
  • Ethereum (ETH): A blockchain and cryptocurrency enabling smart contracts (self-executing blockchain code) and decentralized applications.
  • Onchain Transaction Tracking: The process of analyzing and monitoring blockchain transactions in real time to identify suspicious activity or trace asset movements.