Blockchain security firm PeckShieldAlert has reported new movement of funds associated with the July 2024 exploit of BlueMove, a decentralized exchange (DEX) operating on the Sui and Aptos blockchains. According to on-chain data, an address identified as the perpetrator recently cross-bridged 115,000 USDC from the Ethereum network to the Hyperliquid decentralized trading platform. Following the transfer, the attacker utilized the assets to acquire 188.25 XMR (Monero) at a market price of approximately 159.43 USDT per token.
Background of the BlueMove Protocol Exploit
The incident dates back to July 11, 2026, when the BlueMove automated market maker (AMM) fell victim to a targeted exploit. The security breach resulted in the theft of 710,670 SUI tokens from a total of 389 locked liquidity pools. At the time of the incident, the stolen assets were valued at approximately 587,000 USD.
Industry analysts note that hackers frequently target locked liquidity pools by identifying vulnerabilities in smart contract logic that govern withdrawal permissions or reward distributions.
Asset Laundering and Privacy Coin Usage
The shift toward XMR marks a common strategy used by malicious actors to obscure the digital paper trail. Unlike transparent ledgers like Ethereum or Sui, Monero employs advanced cryptographic techniques to hide transaction amounts and participant identities.
- The attacker moved 115,000 USDC across chains to diversify the holding.
- The funds were routed through Hyperliquid, an order-book-based perpetual DEX.
- The final conversion into Monero suggests an attempt to exit the transparent DeFi ecosystem.
"An address tagged as BlueMove hacker cross-bridged 115,000 USDC from Ethereum to Hyperliquid and purchased 188.25 XMR at a price of 159.43", stated the report from PeckShieldAlert, highlighting the continued monitoring of the stolen capital.
The recent activity indicates that the exploiter remains active in managing the illicit proceeds months after the initial breach. The use of cross-chain bridges and privacy-centric assets continues to present significant challenges for law enforcement and blockchain forensic teams attempting to recover stolen funds in the decentralized finance sector.
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