The hackers who struck Heco Bridge, a project linked to Tron (TRX) founder Justin Sun, have been funneling their stolen Ethereum (ETH) into the sanctioned crypto mixer Tornado Cash (TORN).

The blockchain security firm PeckShield notes the exploiters sent 40,391.8 ETH worth approximately $145.7 million to Tornado Cash in the past eight days.

Source: PeckShield/X

In November, hackers hit Heco Bridge and the crypto exchange giant HTX, both of which are linked to Sun. According to cybersecurity firm Cyvers, the protocols were hacked to the tune of a combined $100 million – $86 million of which came from the Heco Bridge.

Heco Bridge moves funds between Ethereum and the energy-saving blockchain Heco Chain.

Tornado Cash is an Ethereum-based coin mixing system that helps users conceal their digital assets.

The controversial project was sanctioned by the US in 2022 for national security purposes. One of its founders, Roman Storm, was arrested last year and charged by the U.S. Department of Justice (DOJ) for allegedly laundering $1 billion in criminal proceeds, including hundreds of millions of dollars for the Lazarus Group, the sanctioned North Korean cybercriminal outfit.

The DOJ also charged Tornado Cash co-founder Roman Semenov, though he remains at large.

Additionally, one of the project’s developers, Alexey Pertsev, was arrested in the Netherlands on money laundering charges in 2022.

Generated Image: Midjourney

The post Heco Bridge Exploiters Funnel $145,700,000 Worth of Ethereum Into the Crypto Mixer Tornado Cash: PeckShield appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ March 24, 2024 7:13 am