DAO Maker Hacker Returns, Sends $600K to Tornado Cash
Key Points:
- Exploiter of DAO Maker returns after 200 days, sends $600,000 to Tornado Cash.
$7M stolen in DAO Maker exploit in August 2021.- Hackers continue to exploit vulnerabilities in smart contracts to steal crypto assets.
DAO Maker was exploited due to a bug in its smart contract. The exploiter was able to take over $7 million of stablecoins and disperse them across several wallets.
This has resulted in the platform being associated with a hacking scandal that rocked the crypto community. However, it seems that the saga is far from over. Recently, an Ethereum wallet that was linked to the DAO Maker exploit has come back to life. The interesting aspect of this development is the fact that the wallet had not been active for over 200 days. The wallet’s owner sent $600,000 worth of stablecoins through Tornado Cash, according to security firm PeckShield. This has fueled speculation that the exploiter may be planning another attack.
Moreover, it seems that the exploiter is also involved in money laundering activities. Another wallet associated with the exploiter moved $500,000 worth of DAI in September, again using Tornado Cash. This is not surprising given that Tornado Cash is a popular mixing service that is used to obscure the details of transactions. However, the service has been in the spotlight recently because it was sanctioned by the U.S. Treasury Department’s Office of Foreign Assets Control. As a result, all U.S.-based individuals and entities are prohibited from interacting with the app, given its potential for money laundering.
Hacks have soared in the intervening period since the DAO Maker exploit. 2022 was a landmark year with over $3 billion stolen via crypto hacking, a record. During 2022, security incidents involving cross-chain bridges and decentralized finance protocols stood out. During such exploits, hackers accessed and stole crypto assets without authorization by taking advantage of vulnerabilities in smart contracts — similar to the DAO Maker hack. It is important for investors to be aware of these risks and to take appropriate measures to secure their assets. By signing-up you agree to our Terms of Service and Privacy Policy.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
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DAO Maker Hacker Returns, Sends $600K to Tornado Cash
Key Points:
- Exploiter of DAO Maker returns after 200 days, sends $600,000 to Tornado Cash.
- $7M stolen in DAO Maker exploit in August 2021.
- Hackers continue to exploit vulnerabilities in smart contracts to steal crypto assets.
DAO Maker was exploited due to a bug in its smart contract. The exploiter was able to take over $7 million of stablecoins and disperse them across several wallets.
This has resulted in the platform being associated with a hacking scandal that rocked the crypto community. However, it seems that the saga is far from over. Recently, an Ethereum wallet that was linked to the DAO Maker exploit has come back to life. The interesting aspect of this development is the fact that the wallet had not been active for over 200 days. The wallet’s owner sent $600,000 worth of stablecoins through Tornado Cash, according to security firm PeckShield. This has fueled speculation that the exploiter may be planning another attack.
Moreover, it seems that the exploiter is also involved in money laundering activities. Another wallet associated with the exploiter moved $500,000 worth of DAI in September, again using Tornado Cash. This is not surprising given that Tornado Cash is a popular mixing service that is used to obscure the details of transactions. However, the service has been in the spotlight recently because it was sanctioned by the U.S. Treasury Department’s Office of Foreign Assets Control. As a result, all U.S.-based individuals and entities are prohibited from interacting with the app, given its potential for money laundering.
Hacks have soared in the intervening period since the DAO Maker exploit. 2022 was a landmark year with over $3 billion stolen via crypto hacking, a record. During 2022, security incidents involving cross-chain bridges and decentralized finance protocols stood out. During such exploits, hackers accessed and stole crypto assets without authorization by taking advantage of vulnerabilities in smart contracts — similar to the DAO Maker hack. It is important for investors to be aware of these risks and to take appropriate measures to secure their assets. By signing-up you agree to our Terms of Service and Privacy Policy.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
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