Raydium Exchange exploiter transfers $2.7M to Tornado Cash

Key takeaways:

  • The hacker who manipulated the decentralised exchange Raydium,  transmitted $2.7 million in ethereum to sanctioned Tornado Cash.
  • A wallet identified as “Raydium Exploiter” paid 42 tranches totaling 1,774.5 ETH to Tornado Cash, according to the transaction data on etherscan.

ETH worth roughly $1.75 million has been transferred from a wallet address associated with the Raydium DEX exploiter using the authorised mixing protocol Tornado Cash.

While security teams from several exchanges continue to battle the hackers’ efforts, money continues to pour into the authorised cryptocurrency mixer Tornado Cash.

The Solana blockchain-based decentralised exchange Raydium, which was hacked in December, lost about $4.4 million in various assets. According to sources, the hacker stole approximately $2.2 million in digital assets from a pool on Raydium in a matter of hours, including SOL valued at $1.6 million.

According to a tweet sent on January 19 by the blockchain security company Certik, a wallet connected to the Raydium exploiter has transferred around 1,774.5 ETH to Tornado Cash.

The Raydium team has put up a strategy to reimburse the victims of the thefts, using the decentralised autonomous organisation treasury to purchase lost tokens and repaying individuals impacted by the breach.

The U.S. Treasury Department barred all country residents from utilising Tornado Cash, a decentralised cryptocurrency mixing service, in August of 2022.

This proactive approach demonstrates the American government’s commitment to pursue various crypto supply chain nodes used for illicit reasons. Despite harsh sanctions, Tornado Cash continues to be the bad guy in the crypto space.

Just a few days back, Attackers of the cross-chain interoperability protocol transferred 1,205 ETH (approx $1.5 million) to Tornado Cash.

While Tornado Cash sanctions had some impact on the mixer, according to a research published by blockchain analysis company Chainalysis, no entity can “draw the plug” as readily as centralised services. Its smart contracts can remain active even when its website is shut offline, demonstrating that anyone can utilise it at any moment.

Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

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