Recent reports indicate the hacker responsible for the BtcTurk breach is actively converting the stolen cryptocurrency into Ethereum (ETH). This development, initially flagged by Lookonchain, sheds further light on the aftermath of the security incident at the Turkish exchange. As previously reported, BtcTurk experienced an unauthorized transfer of approximately $48 million worth of various cryptocurrencies. In response to concerns about user funds, BtcTurk assured the public that the majority of their assets are securely stored in cold wallets, minimizing the impact of the hack on individual users. The conversion to ETH could be an attempt by the hacker to launder the funds or move them to decentralized exchanges (DEXs) for further obfuscation. Monitoring of the hacker's wallet activity will be crucial to tracing the stolen funds and potentially recovering them. The investigation is ongoing. ```

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