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A crypto wallet linked to the $23 million Bitrue exchange hack of April 2023 has resurfaced after months of dormancy, with new on-chain movements showing a calculated effort to launder the stolen funds. According to data shared by blockchain analyst @EmberCN, the attacker is actively converting assets into Ethereum (ETH) and funneling them through Tornado Cash, a well-known crypto mixer. The laundering activity marks the latest chapter in a long-running saga that began when various assets, including ETH, QNT, GALA, and SHIB, were stolen from the exchange. Related: From SHIB to ETH to Tornado: How Bitrue’s stolen crypto is finally on the move The breach in April 2023 led to the theft of various assets, including ETH, QNT, GALA, SHIB, HOT, and MATIC. At the time, the total value of the stolen tokens was estimated at $23 million. Shortly after the incident, the attacker converted most of the compromised assets into ETH directly on-chain. The address remained largely dormant until March 2024, when it sold 4,207 ETH at a market price of $3,885 per coin. That transaction yielded 16.345 million DAI. However, the assets remained untouched until June 2025, when renewed on-chain activity confirmed movement of both ETH and DAI to a new wallet. Recent activity shows that the hacker has spent 8.304 million DAI to purchase 3,000 ETH. Shortly after, 4,600 ETH, equivalent to $12.65 million at the time of the transaction, was sent through Tornado Cash. The laundering process is still ongoing, with the wallet holding an additional 8.04 million DAI and 3,510 ETH as of the latest update. Related: Notorious Bitrue Drainer Strikes Again, Liquidating $16.34 Million of ETH These operations are part of a structured effort to cover up the origins of the funds through Tornado Cash. On-chain records show that before initiating these latest transactions, the hacker also sold off remaining SHIB and HOT tokens. The SHIB liquidation involved 150 billion tokens, generating 1,090.4 ETH valued at $1.97 million. Meanwhile, the sale of 1.35 billion HOT tokens netted 76.5 ETH, or roughly $140,000. The coordinated sale, exchange, and laundering of stolen assets over multiple stages shows a calculated strategy to exit holdings with minimal traceability. Analysts continue to track the wallet, which remains active. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Just spent 9 months rewriting my entire web3 story Not the chapter I expected, but wow, what a plot twist Taking a breather to share the full saga (2000 words of raw truth) with you all soon Anyone else feel like their life script got completely flipped this year?