Tornado Cash Used by Poloniex Hacker to Launder $308K Worth of Ethereum
The individual behind the Poloniex hack, known as the Poloniex hacker and identified by the address 0x3E…fDFd, has recently been involved in money laundering activities. According to reports from WuBlockchain, the hacker transferred 100 ETH, equivalent to around $308,000, to Tornado Cash for illicit purposes. This marks the first time that the Poloniex hacker has used Tornado Cash for money laundering.
In addition to this recent activity, it has been discovered that the hacker has accumulated a significant amount of crypto assets, totaling over $182 million. This includes 25,563 ETH worth $79 million, 305,042 TRX valued at $36 million, 626 BTC worth approximately $32 million, and 364.292 BTCT valued at $23.3 million.
The Poloniex hack took place on November 10th of the previous year, resulting in a massive theft of $114 million in various cryptocurrencies. The Ethereum wallet associated with the hacker was used to send $114 million worth of tokens in 357 transactions from Poloniex. Additionally, a Tron blockchain wallet connected to the incident sent around $42 million to multiple addresses.
There have been speculations that the individual responsible for the Poloniex hack is linked to the Lazarus Group, a notorious hacking organization based in North Korea. The Lazarus Group is known for engaging in large-scale cyber-crimes, targeting financial institutions and cryptocurrency platforms to fund the North Korean regime.
Not only did Poloniex fall victim to the hack, but the Justin Sun-owned crypto exchange HTX and Heco cross-chain bridge were also attacked. These attacks resulted in the loss of over $97 million in various tokens. It is believed that a vulnerability in private keys enabled the hackers to carry out the attacks, utilizing the Heco bridge to transfer tokens from users’ wallets to their Ethereum network accounts.
The recent money laundering of 100 ETH to Tornado Cash highlights the sophisticated methods employed by hackers to conceal stolen funds in the crypto space. Tornado Cash, a decentralized mixer protocol, obfuscates transfers, making it challenging for authorities to trace the funds.
The ongoing investigation into the Poloniex hack and related incidents underscores the urgent need for robust security measures in crypto exchanges and blockchain protocols. As the case unfolds, security officers and cyber experts continue their efforts to identify and apprehend the suspects involved in this cybercrime.
Tags: Hack