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ZachXBT reveals the details of the investigation of the 2024 Bittensor hack: identifying suspects through NFT washing sales and winning white hat bounties

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2025-10-15 14:29:53
On-chain detective ZachXBT successfully identified a suspect in the 2024 Bittensor hack by tracking anime NFT money laundering transactions, and received a white hat bounty for it. Between May and July this year, 32 $TAO holders encountered unauthorized transfers of more than $28 million, causing the Bittensor network to be suspended on July 2.
The investigation revealed that the attackers carried out the theft through a malicious PyPi supply chain attack, then natively bridged the stolen funds to Ethereum through Bittensor, and transferred about $4.94 million to the privacy protocol Railgun across multiple addresses, which was eventually exchanged for Monero.
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