Head of Galaxy Research Accuses Duel of Failing to Freeze Stolen Coldcard Funds

iconTechFlow
Share
This is the logo of the coin.
BTC
$63,716.90-0.61%
This is the logo of the coin.
ETH
$1,883.000.14%
AI summary iconSummary
Galaxy Research Head Alex Thorn accused Duel of failing to freeze 17 BTC stolen through a Coldcard wallet hack. The funds were converted to ETH via THORChain and transferred into Duel. Despite CFT protocols and industry best practices for liquidity and crypto markets, Duel reportedly delayed action, instructing the victim to contact law enforcement first. Thorn warned that legal risks are imminent if the platform does not act. The victim provided hashes and evidence, but no action was taken.

Galaxy research lead Alex Thorn stated that after a victim with a Coldcard wallet holding approximately 30 BTC was attacked, the hacker exchanged the stolen 17 BTC for ETH via THORChain and deposited it into the Duel platform. The victim and related researchers have emailed all known Duel contact channels, requesting a freeze on the funds and providing complete transaction hashes, fund flow details, and deposit information. However, Duel demanded that the victim contact law enforcement before taking action, despite previously claiming to enforce KYC and AML policies and comply with relevant laws and regulations. Alex Thorn warned that if Duel does not freeze the funds, it may face "significant legal action," noting that Duel became aware of the fund source within minutes of being notified.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.