43 Million in Stolen Cryptocurrency from Remilia DAO Hack Tracked to Tornado Cash

The breach on Remilia DAO, the decentralized organization responsible for the Milady Maker NFT collection, has taken a troubling turn. CertiK, a blockchain analysis firm, has uncovered that over $4.3 million in stolen cryptocurrency has been moved to the illicit mixer known as Tornado Cash.

In a recent tweet, CertiK disclosed that 1,209.5 Ether (ETH), currently valued at around $4.3 million, was transferred to Tornado Cash. This deposit appears to be linked to various addresses involved in the Remilia hack that occurred in March.

Following the hack in mid-March, Remilia and the Milady brand owner, Krishna Okhandiar (Charlotte Fang), took their time to report the incident online. It was soon discovered that all the stolen assets had been funneled into a specific wallet and rapidly converted into cash.

The stolen NFTs sparked conversations after the Twitter account Dumpster DAO shared Fang’s report, which included a snapshot of the address and the details of the looted assets. Blockchain data confirmed the sale of the associated NFT Milady and the subsequent transfer of 1 million ETH from the wallets to another account.

Despite some skepticism surrounding the hack, with some users suggesting Remilia may have orchestrated it themselves, the situation has raised concerns about the challenges of identifying and recovering stolen cryptocurrency in the realm of DeFi. The continued use of Tornado Cash by cybercriminals prompted US authorities to ban its application in August 2022.

As the investigation unfolds, members of the cryptocurrency community remain anxious, underscoring the urgent need for enhanced security measures in the rapidly evolving landscape of decentralized finance.

Also Read: Crypto Hackers Have Stolen $19 Billion+ Since 2011: Reports.