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- Poloniex hacker launders $308,000 ETH through Tornado Cash.
- $182 million in stolen crypto assets remain untouched.
- North Korean group suspected in Poloniex exchange breach.
Poloniex hacker known by the alias oxFd…Fdfd is making a serious dent in the crypto landscape. The hacker moved 100 ETH, whose equivalent was about $308 000, to Tornado Cash address, the first transaction to launder assets stolen from the exchange.
Hacker’s first money laundering attempt
As distinguished columnist Colin Wu reported, the Poloniex scammer was traced in a recent fund movement. Rather than directly depositing ETH after the hack into a simple Ethereum wallet, the hacker deliberately transferred his loot to Tornado Cash. This is equally important because the perpetrator now has resorted to laundering stolen assets, which is a very clear indication of the evolving events.
Poloniex exchange initial hack
The Poloniex exchange, which is owned by Justin Sun, was hit badly, and the attackers used a mechanism called ‘replay attack’ to gain access to the customer’s deposit. The perpetrators, allegedly associated with a North Korean hacking outfit, executed a scheme that led to the undetected theft of a whopping $182 million worth of virtual currencies. These assets amount as follows
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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.
Emman Omwanda
Emmanuel Omwanda’s expertise lies in cryptocurrency markets, spanning both fundamental and technical analysis. He previously worked with various crypto media sites before joining Cryptopolitan, including CoinEdition, The Crypto Basic, CryptoNews Flash, and DroomDroom.He holds a Bachelor of Science (BSc.) in Mathematics and Computer Science from Kenyatta University, Kenya, and is currently in his final year pursuing a Bachelor of Arts in Communication and Media Studies.
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