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Home Ethereum News

Raydium Hacker Moves $2.7 Million Using Tornado Cash Mixer

Hania by Hania
January 19, 2023
in Ethereum News
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Raydium Hacker Moves $2.7 Million Using Tornado Cash Mixer
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Raydium Hackers used Tornado Cash to move $2.7 million in stolen Ethereum.

The money was stolen in December 2022 during a hack of the decentralized exchange Raydium.

On January 19, $2.7 million in ether (ETH) was laundered through Tornado Cash by an Ethereum address linked to a Raydium hack, according to security firm CertiK.

The Solana blockchain-based decentralized exchange Raydium, which was hacked in December, lost about $4.4 million in various assets. The admin account keys that operate Raydium’s smart contracts were compromised, allowing the hacker to take control of the liquidity pool (LP) tokens. The funds were eventually transferred by the hacker to Ethereum.

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Raydium Hacker Moves $2.7 Million Using Tornado Cash Mixer

More than a month after the event, a transfer of $2.7 million in stolen funds was transferred to an address identified by Etherscan as Raydium’s exploiter. Tornado Cash is a popular choice among hackers since it enables them to hide the transaction history.

Due to its sanctions by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department, Tornado Cash has been in the news since last year.

All US-based individuals and organizations are not permitted to use the app as a result of the restrictions due to the app’s potential for money laundering.

Tornado Cash has kept on being frequently used by hackers of decentralized finance protocols even after the sanctions were announced.

Tags: BLOCKCHAINDeFiethexchangehackTornado Cash
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Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

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