Hackers funnel stolen crypto into Zcash privacy pools

Blockchain analyst Specter reported that assets tied to the $12 million Triple-A exploit and the Cryptobills Ledger incident have entered the Zcash ecosystem. This follows earlier findings by investigator ZachXBT, who identified roughly 2,700 ZEC—valued at approximately $3.8 million at the time—moving into Zcash’s Ironwood pool following the September 24 Bitget breach. While Bitget confirmed total losses of $387.5 million, the portion funneled into Zcash represents only a segment of the stolen capital.

Zcash’s Ironwood pool, launched in July 2026, serves as the primary gateway for these movements. Although the protocol was designed to address security vulnerabilities in the earlier Orchard system rather than facilitate money laundering, its architecture allows users to conceal transaction amounts and recipient identities. Despite these obfuscation efforts, investigators continue to track the assets across multiple chains, including TRON and Ethereum. Bitget has since launched a recovery bounty program, offering a 5% reward for assistance in freezing stolen funds, while maintaining that its cold storage remains secure and user balances are protected by its internal fund.