The Poloniex hacker recently moved 100 ETH to the Tornado Cash mixer, marking the first instance of attempting to launder the stolen assets, as reported by journalist Colin Wu. Despite this, a staggering $182 million worth of cryptocurrencies such as Ethereum (ETH), Tron (TRX), Bitcoin (BTC), and Bitcoin Token (BTCT) remain untouched in the hacker’s wallet.
On November 10, 2023, Poloniex experienced a substantial loss of nearly $125 million in cryptocurrencies as a result of the attack. Following the incident, exchange owner Justin Sun confirmed the successful identification and freezing of a portion of the assets linked to the hacker’s addresses. Subsequently, Sun extended an offer to the hacker, proposing a reward of $10 million in exchange for returning the stolen assets.
The hackers targeting both the Kronos Research cryptocurrency platform and the Hundred Finance cross-chain lending protocol have started moving funds to the cryptocurrency mixing service Tornado Cash.
According to analytics company PeckShield, the hacker began with a trial transaction of $200 worth of ETH, followed by a transfer of 1,314 ETH, nearly $4 million, to a fresh address. Subsequently, the hacker conducted 10 transactions of 100 ETH each from the new address, ultimately funneling the funds into the Tornado Cash service.
The total amount sent to Tornado Cash surged to 3,000 ETH, valued at approximately $3 million.
In November 2023, Kronos Capital fell victim to a hack after intruders gained access to API keys.
Due to its potential for facilitating the transfer of unlawfully acquired funds, the U.S. government sanctioned the crypto mixer Tornado Cash in August 2022. Developers associated with the platform faced charges of money laundering and violating sanctions. By the end of March, the prosecutor’s office sought a five-year prison term for Tornado Cash co-founder Alexey Pertsev.
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