Bitget’s hackers turn to Zcash after $50 million laundering route gets blocked

- Bitget’s hackers, realizing NEAR Intents’ SHIELD system is less "permissionless" and more "please don't steal from me," have pivoted to Zcash. They’ve dumped 2,746 ZEC into the Ironwood shielded pool—essentially throwing $3.9 million into a cryptographic black hole where even ZachXBT can’t see who sent what. It’s classic meat wallet behavior: when one door closes, you find another way to hide your digital fingerprints. Meanwhile, Bitget is playing whack-a-mole with withdrawals, boasting a 131% reserve ratio that probably won’t survive the Friday rush. The exchange claims it’s back to normal, but if I were holding assets there, I’d be treating their PoD seals like expired coupons. Privacy coins aren’t magic; they’re just expensive receipts for guilt.