🚨On-chain fund migration: Balancer hacker exchanges 14,300 ETH for BTC

On-chain monitoring shows that the attacker targeting Balancer has recently been continuously converting assets across chains, using THORChain to exchange approximately 14,300 Ethereum for 419.3 Bitcoin, worth about $32.51 million.

Currently, the address's asset distribution is:

Approximately 7,700 ETH still held on the ETH chain
419.3 BTC held on the BTC chain, with a total value of about $50.4 million

Looking back at history, this address stole assets worth about $98 million in November last year. However, because ETH was valued relatively high at that time (around $3,600), its asset book value has significantly decreased due to market fluctuations.

From on-chain activity, large sums of funds are engaging in typical “cross-chain hedging + asset rebalancing,” gradually converting high-volatility assets into more consensus-based store-of-value assets.

In the crypto market, prices fluctuate, but asset choices reflect underlying logic.
What truly determines the outcome is never a single transaction but how funds continuously adjust their risk structure.

The market will never stop changing, but funds are always seeking safer paths. 🚀