Hackers Started Laundering Crypto Coins They Obtained Last Year!

$500,000 worth of stolen last year DAI crypto money started to be laundered via Tornado Cash.

Cryptocurrency Obtained By Hacking DAO Maker Mixed With Tornado Cash

Cryptocurrency mixer Tornado Cash has once again found itself as the hotspot for stolen cryptocurrencies from a decentralized finance (DeFi) protocol.

PeckShield found that $500,000 worth of DAI was moving through their systems.

Crypto mixing services are protocols that obscure the target of cryptocurrencies, making them difficult to track.

In August 2021, the crypto fundraising platform Dao Maker (not affiliated with Maker DAO) suffered a $7 million hack that resulted in the theft of several stablecoins and multiple Ethereums.

On-chain data showed that the coins were sent to two wallets immediately after the attack in 2021.

One of these wallets gives Tornado Cash about 3800 Ethereum ($6.2 million).

The other wallet with the remaining balance has been dormant so far, according to on-chain data.

Tornado Cash was also used to launder $15 million worth of Ethereum stolen from Singapore-based Crypto.com earlier this year.

The frequent association of Tornado Cash with stolen funds has sparked debate over whether it is complicit in money laundering.

The protocol’s founder responded to the controversy by saying that this protocol is not controlled by a single entity and is designed to be unblockable.

The US Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Tornado Cash in August, banning all US individuals and organizations from connecting with the protocol.

*Not investment advice.

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