Millions of Dollars Worth of Ethereum Anonymized from Crypto Wallet

A crypto wallet associated with HECO Chain anonymized approximately 40,392 Ethereum using Tornado Cash. These transactions, which were reported by PeckShield, were carried out in 19 different transfers to obscure the traces of Ethereum worth around $145.7 million. The hacker sent most of the funds to a single address, while allocating a small portion to another address. Hacker’s Elusive Steps These transactions were aimed at anonymizing crypto assets within the Tornado Cash protocol. The largest transfer involved 11,300 Ethereum. Similarly, an account linked to the September 2023 Rocket Pool attack transferred 3,700 Ethereum through Tornado Cash. Tornado Cash’s Role in the Cryptocurrency Sector Tornado Cash has faced scrutiny by the U.S. Treasury Department for allegedly facilitating money laundering transactions. The protocol’s co-founder, Roman Storm, denies these allegations and asserts its innocence. The accusations include conspiring to launder money and engaging in unlicensed money transmission. Arbitrum DAO proposed to provide financial […]

Millions of Dollars Worth of Ethereum Anonymized from Crypto Wallet

A crypto wallet associated with HECO Chain anonymized approximately 40,392 Ethereum using Tornado Cash. These transactions, which were reported by PeckShield, were carried out in 19 different transfers to obscure the traces of Ethereum worth around $145.7 million. The hacker sent most of the funds to a single address, while allocating a small portion to another address.

Hacker’s Elusive Steps

These transactions were aimed at anonymizing crypto assets within the Tornado Cash protocol. The largest transfer involved 11,300 Ethereum. Similarly, an account linked to the September 2023 Rocket Pool attack transferred 3,700 Ethereum through Tornado Cash.

Tornado Cash’s Role in the Cryptocurrency Sector

Tornado Cash has faced scrutiny by the U.S. Treasury Department for allegedly facilitating money laundering transactions. The protocol’s co-founder, Roman Storm, denies these allegations and asserts its innocence. The accusations include conspiring to launder money and engaging in unlicensed money transmission.

Arbitrum DAO proposed to provide financial support for the legal expenses of Tornado Cash founders, but this proposal was later removed from the forum at the request of the author.

North Korea’s Lazarus Group has begun using Tornado Cash to launder stolen funds, providing a method for obscuring the flow of assets in the cryptocurrency sector and allowing hackers to conceal their actions.

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