MistTrack: Cross-chain protocol analysis series: Bitget Swap

Author:Lyndon & Lisa

In the last issue, we introduced in detail the architectural principles and cross-chain identification methods of THORChain.In this issue, we will turn our attention to another mainstream cross-chain tool - Bitget Swap.

What is Bitget Swap?

Bitget Wallet (formerly BitKeep) is a decentralized multi-chain wallet that supports asset management, DApp browsing, NFT market and trading functions. As one of its core components, Bitget Swap provides an aggregated decentralized trading experience, especially in cross-chain exchange scenarios.

Core functions

• Gasless mechanism: Introducing the built-in function GetGas, users can complete transactions without native tokens (such as ETH, BNB);

• Multi-chain flash exchange and cross-chain transactions: One submission can complete the conversion of chain A → currency B → chain C → currency D;

• Deep liquidity: access to a large number of mainstream DEX (such as Uniswap, PancakeSwap, Jupiter).

Technical Architecture

Bitget SwapAsthe core component of Bitget Wallet, its system structure can be divided into two levels: on-chain and off-chain, which work together to achieve the optimal execution of asset exchange and cross-chain paths.

(https://web3.bitget.com/en/blog/articles/bitget-wallet-roadmap-and-tokenomics)

On-chain smart contract layer

• Cross-chain routing mechanism: Deploy Router contracts on multiple chains such as Ethereum, BNB Chain, Solana, and Base, call DEX routing such as Uniswap, PancakeSwap, and Jupiter, and connect to cross-chain bridges such as Bungee and LI.FI to achieve one-step cross-chain currency exchange;

Off-chain aggregation microservice layer

• Smart routing and Bitget Solver: The off-chain service calls the Solver algorithm in real time, automatically splits orders and sorts the liquidity combinations of each DEX/Bridge, dynamically adjusts the slippage threshold, and realizes the generation of trading instructions with the lowest cost and optimal path;

• Multi-chain protocol adaptation: Provide EVM With heterogeneous chain adapters, it parses the on-chain order book and liquidity data, encapsulates the processing logic of network differentiation characteristics, and ensures seamless cross-chain and cross-DEX.

How to track Bitget Swap cross-chain?

Take the BSC address 0x572b4482878B62276F3B0Db27A0A90A013a4ad5b as an example. This address performed three cross-chain transactions with the 100 BNB received through Bitget Swap:

Since Bitget Swap does not have an Explorer, we can only use third-party tools to track the information after the hacker crosses the chain.

1. Blockchain browser

Take the earliest cross-chain transaction 0x5c22b19097… as an example, use a blockchain browser (such as BscScan) to view it, and click Decode Input Data to get the parsed information:

Focus: 

• receiver: receiving address after cross-chain;

• dstChainId: target chain of cross-chain.

For example, the dstChainId in this transaction is 728126428, representing the TRON chain, that is, from BSC to TRON. It should be noted that at this time, the receiver (0x05ae12A468e0eDD6C2bF05753dE3aCcF33267C6F) is in the address form of EVM, which needs to be converted into the address form of TRON chain through the tool (https://tronscan.org/#/tools/code-converter/tron-ethereum-address): dir="ltr" style="text-align: left;">The converted TRON address is TAVEuovS7uVd6V9M95CqCKpdxDZQE5qSaG, which is the receiving address after cross-chain.

In addition, you can also view it through Logs. Take the latest cross-chain transaction 0xcef23d00bd5… as an example:

Click Logs to find the last event record —— BKBridge:

Similarly, in a similar way, the information after cross-chain is the TRON chain address TAVEuovS7uVd6V9M95CqCKpdxDZQE5qSaG.

2. MistTrack

If you need to parse multiple cross-chain behaviors more efficiently, you can use the cross-chain transaction parsing function provided by MistTrack (https://misttrack.io/). In Standard Plan, right-click Bitget Wallet Swap Bridge and select Cross-chain Parsing to quickly obtain the exchanged assets in the three transactions and the receiving address after cross-chain.

For example:

• 33 BNB → 19,349.1341 USDT → TRON addressAddress TAVEuovS7uVd6V9M95CqCKpdxDZQE5qSaG;

• 33.4 BNB → 19,577.9267 USDT → TRON address TAVEuovS7uVd6V9M95CqCKpdxDZQE5qSaG;

• 33.59 BNB → 19,655.9012 USDT → TRON address TAVEuovS7uVd6V9M95CqCKpdxDZQE5qSaG.

At the same time, by clicking the parsed address, you can directly enter the details page of the receiving address, which is convenient for further analysis of the flow of funds after cross-chain.

In addition to Bitget Swap, MistTrack currently supports parsing Bridgersxyz, TransitFinance, StargateFinance, AcrossProtocol, deBridgeFinance and THORChain, and will support more cross-chain bridges in the future.

Summary

Bitget Swap, as a native functional module in Bitget Wallet, has built an aggregated trading system that covers multiple chains and supports flash swaps and cross-chain transactions, but it can also easily become a tool for hackers to launder funds. For practitioners, mastering the cross-chain architecture and on-chain features of such platforms can improve the ability to identify and restore complex capital paths, especially in the face of cross-chain money laundering, hacker stolen money flow analysis and other scenarios.