Ethereum
Poloniex Hacker Laundered $308,000 in Ethereum Using Tornado Cash
It is shocking that hackers are becoming more brazen by the day.
The Poloniex hacker, known by the mysterious address 0x3E…fDFd, executed a sophisticated money laundering scheme. A large sum of 100 ETH (approximately $308,000) was funneled into Tornado Cash, marking the first instance of such illicit activity linked to the culprit, as revealed by WuBlockchain.
Recent revelations have shed light on the scale of the hacker’s crypto loot, totaling an incredible $182 million. This amassed fortune includes 25,563 ETH ($79 million), 305,042 TRX ($36 million), 626 BTC (valued at approximately $32 million), and 364,292 BTCT ($23.3 million).
Learn more about this below.
Reveal the looting
The saga dates back to November 10 of the previous year when Poloniex was the victim of a monumental breach, resulting in a staggering $114 million multi-crypto theft. An Ethereum wallet, allegedly linked to the “Poloniex hacker,” orchestrated a series of 357 transactions, funneling Poloniex tokens.
Simultaneously, a Tron blockchain wallet associated with the incident siphoned approximately $42 million to various addresses.
Was Lazarus behind this decision?
The individual responsible for the Poloniex hack has reportedly been identified as a member of the infamous Lazarus Group, a hacking organization based in North Korea. The Lazarus hacking team, involved in large-scale projects billions of cybercrimesnormally targets financial institutions and cryptocurrency platforms to finance the North Korean regime.
HTX and Heco bridge
Crypto exchange HTX and cross-chain bridge Heco owned by Justin Sun were also attacked, with over $97 million in different tokens sacrificed. It was an alleged private key vulnerability that led to the attack on HTX and Heco Chain, with attackers using the Heco bridge to transfer tokens using private keys from the user’s wallet to their accounts on the Ethereum network.
The laundering of 100 ETH to Tornado Cash clearly shows that hackers who steal money from cryptocurrencies often use sophisticated means of laundering. Tornado Cash, a decentralized mixing protocol, scrambles transfers, making it difficult for authorities to track funds.
Urgent call – When will cybervigilance intensify?
The ongoing investigation into the Poloniex heist highlights the need for robust security measures on crypto exchanges and blockchain protocols. As security forces and cyber detectives intensify their efforts to apprehend suspects in this digital battlefield, vigilance remains paramount.
Also discover: North Korean Lazarus Group Targets Crypto Firms in New LinkedIn Scam
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