Cryptocurrency marketIn a worrying development regarding the hacking attacks that have shaken the country, three hackers have attacked the country in the last three days. Tornado CashA total of 17,800 units worth approximately $43 million Ethereum (ETH) $2,405.88 These deposits, which are linked to recent major hacking attacks, have highlighted ongoing security issues for the cryptocurrency world.
Details of Funds Moved to Tornado Cash
On-chain data provider Lookonchain The largest deposit ever made to Tornado Cash, a popular crypto mixing service known for hiding transaction details to increase user privacy, according to data shared by Penpiexyz‘s hacker transferred 9,600 ETH worth $23 million. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Right after WazirX The exchange hacker deposited 7,200 ETH worth $17.3 million into Tornado Cash. The hacker, who is associated with a previous hack involving cryptocurrency exchange WazirX, appears to be trying to hide the trail of the stolen funds.
In addition, the founder of Fenbushi Capital Bo ShenThe hacker who stole $42 million from also transferred 1,000 ETH worth approximately $2.4 million to Tornado Cash. This transaction is especially striking considering Bo Shen’s important position in the Blockchain world.
Despite Being Blacklisted, It Continues to Be Used
Tornado Cash is a U.S.-based company that is frequently used by hackers looking to launder stolen funds to facilitate anonymous transactions. sanctions listwhat was taken. US Treasury DepartmentThe Office of Foreign Assets Control blacklisted Tornado Cash on August 8, 2022, making it illegal for U.S. citizens, residents, and businesses to receive or send money through the service.
The fact that Tornado Cash is still being used by hackers complicates efforts to recover stolen assets, as the crypto-mixing service makes it significantly harder for authorities to trace the funds.
What happened is the sophistication of the cryptocurrency world hacking attacksAs regulators and exchanges continue to grapple with security issues, there could be potential new measures from governments aimed at reducing such risks in the cryptocurrency world.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
