AFX Trade Hacker Swapped 655.4 ETH for 18.86 BTC via THORChain

What happened

The wallet linked to the AFX Trade exploit exchanged 655.4 Ether (ETH) for roughly 18.86 Bitcoin (BTC) through the THORChain cross‑chain swapping protocol, moving the stolen funds from Ethereum to Bitcoin.

Confirmed

Global impact / market context

Moving the exploit proceeds into Bitcoin shows the attacker is converting the value into a more widely accepted asset, which could put downward pressure on Ethereum prices and raise concerns about the safety of cross‑chain bridges.

Analyst inference

Ethereum and Bitcoin have shown price swings recently, and large on‑chain moves like this can affect short‑term price changes because traders may react to the sudden shift of funds between the two networks.

Analyst inference

What to watch

1. Any additional swaps or transfers from the AFX Trade exploit wallet, which would reveal whether the attacker is continuing to cash out or is holding the assets for later use. Analyst inference
2. The volume of activity on THORChain, since a rise could indicate more cross‑chain swaps related to this exploit or other large fund movements. Analyst inference
3. Comments from regulators or law‑enforcement about the AFX Trade breach, as official statements can influence confidence in decentralized finance platforms. Analyst inference

Affected assets

• BTC — Bitcoin
• ETH — Ethereum

Evidence

• coincu.com