Curve Finance Hacker's Likely Address Launders Funds through Tornado Cash

IconCryptoNewsTerminal Staff09 Jul, 2024

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Curve Finance Hacker's Likely Address Launders Funds through Tornado Cash

Curve Finance Hacker Transfers Stolen Funds After exploiting Curve Finance (CRV) for roughly $570k, the hacker behind the attack has begun laundering funds through Tornado Cash, a well-known crypto mixer. PeckShield, a blockchain security firm, initially identified the address linked to the exploit and has been tracking its activity. Tornado Cash is a privacy-centric protocol that allows users to obfuscate the origin and destination of their crypto transactions. By mixing funds with others in the Tornado ecosystem, it becomes challenging for investigators to trace stolen assets. The hacker's laundering efforts suggest an attempt to conceal the stolen funds and evade detection. The laundered funds may be used to finance further illicit activities or cashed out through cryptocurrency exchanges. Law enforcement agencies and cryptocurrency exchanges are actively monitoring the situation and taking steps to disrupt the hacker's attempts to launder the stolen funds.

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