Balancer Hacker Converts 14,300 ETH to 419.3 BTC via THORChain

Gate News message, April 25 — The Balancer hacker began converting ETH to BTC through THORChain yesterday (April 24) and has now swapped 14,300 ETH for 419.3 BTC, valued at approximately $32.51 million, according to on-chain analyst Yu Jin.

The attacker currently holds 7,700 ETH on the Ethereum blockchain and 419.3 BTC on the Bitcoin blockchain, with a combined value of approximately $50.4 million.

The stolen assets were originally worth $98 million when the hacker first obtained them in November 2025, when ETH was trading around $3,600. The reduction in value is primarily due to the subsequent decline in ETH price.