Tornado Cash, once again, was found to be the nexus of funds stolen from a DeFi protocol.
An Ethereum wallet address associated with the 2021 DAO Maker breach exploiter sent $600,000 worth of DAI stablecoin through the controversial coin mixer.
According to the security of the blockchain firm, PeckShield, the wallet had been inactive for more than 200 days. The move was detected nearly seven months after another wallet linked to the exploiter transferred $500,000 worth of DAI using Tornado Cash. For the uninitiated, DAO Maker, a fundraising platform for crypto projects (no relation to the more well-known MakerDAO), blew up in August 2021, draining over $7 million. The attacker was able to access the balance of the platform by exploiting a bug in the DAO Maker contract that affected more than 5,000 USDC accounts. Hacks have continued to wreak havoc in the decentralized finance space. Malicious entities targeted these protocols when the cryptocurrency market went through another bull run in 2021. DeFi protocols became by far the biggest victims of attacks, accounting for more than 82% of all digital assets stolen by hackers the following year. Through 2022, DeFi protocols posted a loss of $3.1 billion, up from 73.3% in 2021. The latest development comes in the context of an exploit on the popular centralized crypto exchange Bitrue. which reported a loss of $23 million in digital assets in the process.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive) – Use this link to sign up to receive $100 free and 10% off your first month’s fees for Binance Futures (terms).
PrimeXBT Special Offer: Use this link to sign up and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposits.
This post $600k Worth Stablecoins From 2021 DAO Maker Hack Sent Through Tornado Cash
was published first on https://cryptopotato.com/stablecoins-worth-600k-from-2021-dao-maker-hack-sent-via-tornado-cash/
