Poloniex Hacker Launders $308K ETH Through Tornado Cash

Shockingly, crypto hackers are getting more and more brazen by the day.

The Poloniex hacker, known by the mysterious address 0x3E…fDFd, has executed a sophisticated money laundering scheme. A hefty sum of 100 ETH (approximately $308,000) has been channeled into Tornado Cash, marking the first instance of such illicit activity tied to the culprit, as disclosed by WuBlockchain.

Recent disclosures shed light on the extent of the hacker’s crypto loot, totaling an astounding $182 million. This amassed fortune encompasses 25,563 ETH ($79 million), 305,042 TRX ($36 million), 626 BTC (valued at roughly $32 million), and 364,292 BTCT ($23.3 million).

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Exposing the Plunder

The saga harks back to November 10th of the preceding year when Poloniex fell victim to a monumental breach, resulting in a staggering $114 million multi-crypto theft. An Ethereum wallet, purportedly linked to the “Poloniex hacker,” orchestrated a series of 357 transactions, ferrying tokens from Poloniex.

Simultaneously, a Tron blockchain wallet associated with the incident siphoned around $42 million to various addresses.

Was Lazarus Behind This Move?

The individual responsible for the Poloniex hack was supposedly identified as a member of the infamous Lazarus Group, a North Korean-based hacking organization. The Lazarus hacking team, which is involved in mass-scale cyber-crimes of billions, normally targets financial institutions and cryptocurrency platforms to finance the regime in North Korea.

HTX and Heco Bridge

Justin Sun-owned crypto exchange HTX and Heco cross-chain bridge were also attacked, with the sacrifice of more than $97 million in different tokens. It was an alleged private key vulnerability which led to the attack on HTX and Heco Chain, with the 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 makes it openly visible that the hackers who steal money from crypto often use sophisticated means of laundry. Tornado Cash, a decentralized mixer protocol, jumbles up transfers making it difficult for the authorities to track the funds.

Urgent Call – When Will Cyber Vigilance Be Ramped Up?

The ongoing investigation into the Poloniex heist underscores the imperative for robust security measures across crypto exchanges and blockchain protocols. As security forces and cyber sleuths intensify efforts to apprehend suspects in this digital battleground, vigilance remains paramount.

Also Check Out : North Korea’s Lazarus Group Targets Crypto Firms in New LinkedIn Scam

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