Balancer Exploiter Resumes Activity After 5 Months, Launders $2.55M ETH to BTC
The perpetrator behind a $120 million theft from Balancer has become active again. In the past hour, the exploiter moved 1,100 ETH valued at $2.55 million and began converting it to BTC via THORChain. @lookonchain reported the laundering activity on 2026-04-24.
Substrate placeholder — needs reviewThe exploiter responsible for stealing nearly $120 million from Balancer has resumed activity after a five-month hiatus, according to @lookonchain. 55 million, and initiated conversions to BTC through THORChain. This marks the first signs of movement since the exploiter went dormant.
@lookonchain reported that the Balancer exploiter is laundering funds by swapping ETH into BTC via the THORChain protocol. The recent transfers involve converting the moved ETH directly into BTC. These actions follow the initial theft of nearly $120 million.
The exploiter became active again after remaining inactive for five months, as detailed by @lookonchain. The laundering process focuses on exchanging ETH for BTC, with the latest batch amounting to 1,100 ETH. This development highlights ongoing efforts to process the stolen assets.
Details from @lookonchain indicate the exploiter stole nearly $120 million in the original incident. The current activity centers on moving and converting portions of those funds. 55 million, now being swapped into BTC.
Key Facts
Story Timeline
4 events- 2026-04-24 (past hour)
The Balancer exploiter moved 1,100 ETH valued at $2.55M and began converting it to BTC.
1 source@lookonchain - 2026-04-24 (recently)
The Balancer exploiter became active again after 5 months and started laundering funds by swapping ETH to BTC through THORChain.
1 source@lookonchain - 5 months prior to 2026-04-24
The Balancer exploiter went inactive after the initial theft.
1 source@lookonchain - Prior to 5 months ago
The Balancer exploiter stole nearly $120M.
1 source@lookonchain
Potential Impact
- 01
Heightened alerts from blockchain monitoring services on similar exploiter activities.
- 02
Potential further movement of remaining stolen funds, increasing laundering volume.
- 03
Increased scrutiny on THORChain protocol for facilitating cross-chain swaps in illicit activities.
- 04
Possible market fluctuations in ETH and BTC prices due to large transfers.
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