What happened
A Galaxy research executive has flagged a hack-related fund movement tied to a compromised Coldcard wallet. According to the monitoring, the incident involved nearly 30 BTC, with 17 BTC converted into ETH through THORChain and subsequently sent to offshore casino Duel.com.
Why it matters for the market
On-chain data shows 229.72497255 ETH, worth about $445,000, was deposited into Duel.com casino. The victim and a researcher contacted all known addresses of the casino, asking for the funds to be frozen and providing transaction and deposit details.
The casino reportedly replied that police would need to contact its team directly. Its AML policy says it runs KYC procedures and follows applicable laws. The casino was alerted just minutes after the deposit was completed, but it has not frozen the funds so far.
Legal action is now being threatened if the casino refuses to cooperate. A police report is unlikely to be filed before Monday, since most Western regions were already past midnight when the incident unfolded.
What traders should watch
The situation highlights how quickly stolen crypto can move into gambling platforms, and how cross-border venues may complicate recovery efforts. Traders and on-chain observers are watching whether the casino responds or whether the victim follows through with the lawsuit.
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