The post Hackers Stolen Funds Purchase Ether Prices Market Crash appeared on BitcoinEthereumNews.com.

Amid a crypto market downturn, hackers are capitalizing on the chaos by acquiring more Ether (ETH) using stolen funds. Amid the crypto market downturn, hackers have seized the opportunity to acquire more digital assets. The Nomad Bridge Exploiter managed to acquire 16,892 ETH by sending 39.75 million DAI during the latest market dip. The same hackers who exploited the PancakeBunny protocol in May 2021 are back in action. They recently swapped 7.8 million DAI for 2,922 ETH during the market downturn. The broader market decline has led to a 14% drop in the global crypto market cap within 24 hours, dipping below $2 trillion. Amid a crypto market downturn, hackers are capitalizing on the chaos by acquiring more digital assets. Recent on-chain analysis reveals two notable incidents where stolen funds were used to purchase Ethereum (ETH).  Lookonchain, an on-chain smart money tracker, has identified transactions involving the Nomad Bridge Exploiter. Hackers bought $ETH at the bottom after the market dropped! The #Nomad Bridge Exploiter spent 39.75M $DAI to buy 16,892 $ETH an hour ago and is depositing $ETH to https://t.co/11PfRBP2j2.https://t.co/8pwhTFSnLw Crypto bridge #Nomad was exploited for ~$200M on Aug 2, 2022.… pic.twitter.com/9id6bxBR14 — Lookonchain (@lookonchain) August 5, 2024 These hackers managed to acquire 16,892 ETH by sending 39.75 million DAI during the latest market dip.  Despite widespread panic triggered by Bitcoin’s plunge below $50,000, the exploiters strategically deposited their newly acquired ETH into Tornado Cash. Notably, the accumulation began as ETH’s price plummeted to as low as $2,100. PancakeBunny Hackers Join The Fray The PancakeBunny protocol, based on Binance Smart Chain (BSC), suffered a massive exploit in May 2021, resulting in the theft of over $200 million worth of crypto. Now, the same hackers are back in action. According to PeckShieldAlert, they recently swapped 7.8 million DAI for 2,922 ETH…

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Filed under: News - @ August 6, 2024 4:08 am