Hackers Increasingly Use Zcash to Launder Stolen Crypto, Analysis Shows

Cryptocurrency hackers are increasingly using privacy coin Zcash to conceal the trail of stolen funds, according to an analysis.Wu Blockchain said in a post on X on Oct. 17, citing analysis by on-chain analyst Specter.Specter said the trend has spread since on-chain investigator ZachXBT disclosed that the Bitget attacker was hiding stolen funds through Zcash. Other hackers have since also moved stolen assets into ZEC.Some of the funds stolen in the Cryptobills Ledger security breach and the $12 million Triple-A hack were also found to have moved into Zcash.Specter said the attackers appear to be using Zcash's privacy features to launder funds and evade transaction tracing.