Poloniex Hacker Successfully Cleanses Millions Using Tornado Cash
Headline: Hacker Behind $114 Million Poloniex Theft Laundered $3.3 Million in Ethereum
In a shocking turn of events, the hacker responsible for the massive $114 million theft from Poloniex has engaged in a sophisticated money laundering scheme. The individual, known only by their enigmatic address 0x3E…fDFd, has transferred $3.3 million worth of Ethereum to Tornado Cash, a decentralized mixer protocol. This marks the first instance of such illicit activity associated with the Poloniex hacker.
Investigations have revealed the staggering extent of the hacker’s crypto loot, which amounts to a total of $182 million. This includes 25,563 ETH ($79 million), 305,042 TRX ($36 million), 626 BTC (approximately $32 million), and 364,292 BTCT ($23.3 million). The hacker’s audacity and brazenness are truly alarming.
The Poloniex breach, which took place on November 10th of the previous year, was a monumental event in the crypto world. The hacker orchestrated 357 transactions, siphoning tokens from Poloniex. Simultaneously, another wallet linked to the incident on the Tron blockchain diverted around $42 million to various addresses.
The hacker behind the Poloniex theft is believed to be a member of the notorious Lazarus Group, a hacking organization based in North Korea. This group is known for its involvement in multi-billion dollar cybercrimes, particularly targeting financial institutions and cryptocurrency platforms to fund the North Korean regime.
The attack on Poloniex was not an isolated incident. The hack also impacted the Justin Sun-owned crypto exchange HTX and the Heco cross-chain bridge, resulting in the loss of over $97 million in various tokens. It is suspected that a vulnerability in private keys was exploited to carry out the attack, with the hackers utilizing the Heco bridge to transfer tokens using stolen private keys.
The recent laundering of $3.3 million in Ethereum to Tornado Cash highlights the sophisticated methods employed by crypto hackers to hide their ill-gotten gains. Tornado Cash, a decentralized mixer protocol, obfuscates transfers, making it challenging for authorities to trace the funds.
This latest development in the Poloniex case serves as a stark reminder of the urgent need for enhanced security measures in cryptocurrency exchanges and blockchain protocols. As security forces and cyber investigators intensify their efforts to apprehend those responsible for these digital crimes, it is crucial for the crypto community to remain vigilant.
In a bid to raise awareness about the pressing issue of crypto security, please share this article with your network. Together, we can work towards strengthening the safeguards that protect our digital assets.
Tags: Hack