Date: Fri, Sept 06, 2024, 05:25 AM GMT
In the cryptocurrency market, three hackers have managed to move 17,800 ETH, valued at approximately $42.7 million, through the privacy platform Tornado Cash in just three days. This alarming development has sparked concern and underscores the persistent security challenges in the crypto space.
According to data from Lookonchain, these hackers strategically funneled their stolen Ethereum through Tornado Cash, a decentralized service known for its ability to obscure transaction trails.
3 Hackers deposited 17,800 $ETH($42.7M) into https://t.co/11PfRBP2j2 in the past 3 days!#Penpiexyz Exploiter deposited 9,600 $ETH($23M) to https://t.co/11PfRBP2j2.#WazirX Exploiter deposited 7,200 $ETH($17.3M) to https://t.co/11PfRBP2j2.
— Lookonchain (@lookonchain) September 6, 2024
The hacker who stole $42M from… pic.twitter.com/4RK63VfrCL
Details of the Hackers’ Actions:
- Penpiexyz Exploiter: This individual moved 9,600 ETH, worth $23 million, into Tornado Cash. The scale of this transfer has raised eyebrows, pointing to a significant breach.
- WazirX Exploiter: Another hacker linked to a separate incident transferred 7,200 ETH, valued at $17.3 million, into Tornado Cash. The origin of these funds suggests a well-executed hack, raising questions about the security of the targeted platforms.
- Fenbushi Capital Heist: The third hacker, who famously stole $42 million from Bo Shen, founder of Fenbushi Capital, deposited 1,000 ETH (approximately $2.4 million) into Tornado Cash. This deposit is part of the aftermath of a high-profile theft that shocked the crypto world.
The use of Tornado Cash by these hackers highlights the ongoing tension between privacy and the need for security in the cryptocurrency industry. While Tornado Cash offers legitimate privacy benefits, it is also being exploited by those looking to launder stolen funds. Authorities and the crypto community are keeping a close watch on these developments as efforts to track down the culprits intensify.
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