According to @lookonchain, Turkish exchange BtcTurk was hacked for more than $23 million (source: Lookonchain on X, Aug 14, 2025). The attacker is actively swapping the stolen assets into ETH, indicating ongoing on-chain conversions that traders should track for liquidity shifts (source: Lookonchain on X, Aug 14, 2025). Historically, exploiters converting proceeds to ETH often route via major DEXs and bridges, which can impact pool liquidity and execution slippage during large swaps (source: Chainalysis 2023 Crypto Crime Report).