Hacker Moves Stolen Ether from Orbit Chain Heist through Tornado Cash
The post Hacker Moves Stolen Ether from Orbit Chain Heist through Tornado Cash appeared on BitcoinEthereumNews.com.
Anxiety ensues among cryptocurrency investors as dormant funds from the infamous December Orbit Chain hack make unexpected movements through Tornado Cash. The breach originally seized $48 million, which has now grown to $121 million due to market appreciation, was thought to be idle until recent activity. The hacker’s actions, laundering nearly $50 million worth of Ether via Tornado Cash, have reignited concerns over cryptocurrency security. An in-depth look at the recent resurfacing of the Orbit Chain hacker, who is now maneuvering stolen funds through Tornado Cash, raising alarm in the crypto community. Elusive Hacker Strikes Again After months of inactivity, the hacker behind the Orbit Chain heist has reignited fears by moving the stolen Ether into Tornado Cash, a platform known for anonymizing blockchain transactions. Nearly $50 million in Ether has been transferred, complicating efforts to trace and recover the funds. 🚨ONGOING: $100M Orbit Chain Exploiter sends $32M to Tornado Cash after 5 months silence In the past hour, the Orbit Chain Exploiter moved 8671 ETH ($32M) to a new address and is currently in the process of depositing it to Tornado Cash. They stole over $100M in ETH and DAI… pic.twitter.com/Bq7BRdXqmc — Arkham (@ArkhamIntel) June 8, 2024 Orbit Chain Hack: Motive Unclear The hacker’s recent activity has left many questioning the motives. Speculations suggest it could be linked to Orbit Chain’s recent reactivation of certain bridging services, which facilitate the transfer of assets between different blockchains. This maneuver hints at the hacker’s potential plans either to liquidate the assets or to further mask the trail. Despite ongoing investigations and attempted collaboration with authorities, Orbit Chain has done little to clarify the situation for its users. They have not yet addressed whether stolen funds will be reimbursed, leaving many investors in a state of uncertainty. With Ethereum now trading at…
Filed under: News - @ June 10, 2024 9:28 am