The post Hackers launder nearly $50M in Ethereum through Tornado Cash in September appeared on BitcoinEthereumNews.com.

Four hackers responsible for exploiting crypto exchange WazirX, DeFi protocols Penpie and LiFi, and crypto entrepreneur Bo Shen have transferred $49.3 million in stolen ETH through the Tornado Cash mixer this September. Data from SpotOnChain shows that between September 1 and 8, these hackers funneled 20,561 ETH, worth $49.3 million, through the banned crypto mixer. Their money laundering activities coincided with a 13% drop in ETH value, causing the asset to drop below $2,200 and raising concerns about its long-term potential. However, ETH is facing many pressures apart from the selloffs by hackers. Penpie exploiter launders all stolen ETH as WazirX hacker still holds $123 million On-chain data shows that the Penpie hacker moved 11,261.2 ETH, worth $26.72 million, through Tornado Cash over the past week, signaling that they have now laundered all the funds stolen from the Pendle-based protocol on September 2. With the hacker choosing to transfer the funds through the mixer, it is now evident that they are not white hackers and will not take up Penpie’s offer of a 10% bounty for anyone who could help recover the assets. Interestingly, an address connected to the $197 million Euler Finance hack of March 2023, which returned stolen funds, sent an on-chain message praising the Penpie hacker for keeping the stolen assets. He said: “Good job, bro. I didn’t see a hack like this for a while. I’m happy you kept all the money and didn’t let these bastards get back one dollar of what you took. You won; they lost. Good job.” While the Penpie exploiter chose to launder everything at once, the WazirX hacker who stole over $230 million in ERC-20 tokens from the exchange is adopting a slow and steady approach, likely because of the magnitude of the stolen assets. Laundered ETH Through Tornado Cash…

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Filed under: News - @ September 8, 2024 8:12 pm