Wednesday, May 29, 2024

$500,000 DAI stolen funds being moved to Tornado Cash:Peckshield.

Blockchain security firm Peckshield has highlighted the movement of stolen $500,000 DAI to Tornado Cash. It revealed that an Ethereum address associated with an exploit in 2021 of DAO Maker laundered 500,000 DAI stablecoins through Tornado Cash. The hacker used fake browser plug-ins to gain control of the funds.

Peckshield tweeted that it’s seeing a movement of $500,000 DAI to Tornado Cash from EOA 0x0B789. The firm believes the address is directly connected to the DAOMaker exploiter who stole funds. Experts say hackers have taken note of different popular platforms and have made them their targets. PeckShield identified an address in December 2021 which was responsible for exploiting Grim Finance. It transferred $3.3 million into Tornado Cash. Monox Finance suffered a $2.1 million heist in September. The funds were mixed via Tornado Cash. Hackers opt for Tornado Cash as it’s hard to track and conceals the transactions.

Hackers of DAO Maker managed to get away with $7 million worth of stablecoins. They split it into different addresses. Etherscan identified one of the addresses used for the transfer of DAI stablecoins to $500,000. Tornado Cash, a mixing service, has been in the limelight ever since it was slapped with sanctions on August 8 by the US Treasury Department’s Office of Foreign Asset Control. The platform was alleged of laundering $7 billion in illicit fund flows. It was also allegedly used by Lazarus – a North Korean hacking group to launder stolen funds.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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