Peckshield, a prominent blockchain security firm, took to Twitter to bring to light that $500K in stolen funds from the DAO Maker exploit are on the move.
PeckShield and CertiK said an Ethereum address associated with an exploit last year of DAO Maker has laundered 500,000 DAI stablecoins through Tornado Cash, using fake browser plugins to gain control of the funds they robbed.
“We are seeing a movement of $500,000 DAI to @TornadoCash from EOA 0x0B789. The address is directly connected to the DAOMaker exploiter who stole funds from @TheDaoMaker” Peckshield said in a tweet.
This is not the first-time illicit money flows are happening through Tornado Cash allegedly used by North Korea.
Popular platforms are prominent to hacks
According to the security firms, Hackers have taken note of different popular platforms, and have made them their targets. In December 2021, PeckShield identified an address responsible for exploiting Grim Finance and transferred $3.3 million into Tornado Cash. Relatedly, in September, Monox finance also suffered a heist of $2.1 million which was mixed using Tornado Cash. The hackers often siphon robbed monies through Tornado Cash because it’s hard to track and conceals the transactions.
DAO Maker suffered a hack in August 2021. Because of the ambiguities, hackers managed to take off with stablecoins worth $7 million and split in the different addresses owned by the hacker, according to the firms. One of the addresses, identified as Etherscan was today used to transfer DAI stablecoins $500,000.
Hackers ignore Tornado Sanctions
The Mixing Service, Tornado Cash, has been in the limelight since it was slapped with sanctions on Aug. 8, by the Treasury Department’s Office of Foreign Asset Control (OFAC) for allegedly sponsoring the laundering of $7 billion in illicit fund flows. The platform was also allegedly being used by the infamous North Korea hacking group Lazarus to launder stolen funds in the amount of $455 million.
Even though the sanctions are still in effect, hackers have continued to undermine them using decentralized finance protocols.
For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.
Trusted
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
