Hacker Strikes Again Cryptographic Exchange Poloniex has been compromised once more, resulting in the illicit transfer of significant sums of digital currency. Reports indicate that the perpetrator has executed f urther transactions, directing a total of 1,100 Ethereum (ETH) to the digital currency blending service Tornado Cash in a series of maneuvers.
Notably, recent activity reveals the transfer of $32 million worth of Bitcoin (BTC) to an undisclosed wallet address.
Hacker Strikes Again $181 Million in Cryptocurrency
An estimated $181 million in digital assets remains firmly within the grasp of the malefactor. This individual, responsible for absconding with $125 million in digital funds from Poloniex’s active wallets in November 2023, has now channeled 1,100 ETH into Tornado Cash, a cryptocurrency blending platform flagged by U.S. regulatory sanctions. Experts caution that this move may signal an intention to liquidate the ETH held within Tornado Cash.
The aforementioned ETH, valued at approximately $3.3 million, had lain dormant for a period spanning 178 days. Today, the offender orchestrated the transfer of said ETH into Tornado Cash in transactions involving 100 ETH each. Preceding this action, on April 30, attention was drawn to the perpetrator’s activities as 501 BTC, equivalent to $32 million, was routed to an undisclosed wallet address.
Analysis conducted by Arkham reveals that the perpetrator’s digital wallet continues to retain a substantial sum of $181 million across various blockchain networks.
Tornado Cash Continues to Be Used Despite Sanctions
Despite being subject to regulatory sanctions, Tornado Cash persists as a favored tool for obfuscating the origins of digital assets. This protocol, introduced in 2022, facilitates the commingling of cryptocurrencies across disparate wallet addresses over an extended duration.
Notably, its inclusion on the U.S. Treasury Department’s sanctions list followed its employment by the Lazarus Group, a North Korean hacking syndicate, to conceal proceeds from the $625 million Axie Infinity (AXS) breach.
Despite regulatory restrictions, Tornado Cash remains in active use, serving as a conduit for laundering funds derived from illicit cryptocurrency activities. In a recent disclosure, blockchain security firm Elliptic revealed that the Lazarus Group employed Tornado Cash to cleanse $12 million in digital assets pilfered shortly after the Poloniex incident, further underscoring the persistent utility of this protocol.