MonoSwap Hacker Launders $1.3M in ETH via Tornado Cash

IconCryptoNewsTerminal Staff24 Jul, 2024

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MonoSwap Hacker Launders $1.3M in ETH via Tornado Cash

MonoSwap, a decentralized exchange (DEX) built on the Blur-led Layer2 network BLAST, recently fell victim to a cyberattack. PeckShield, a blockchain security firm, reported that the stolen funds have been laundered through Tornado Cash. Exactly how much MonoSwap lost in the attack remains unclear. PeckShield detected that 371 ETH, worth approximately $1.3 million, was transferred from the hacker's wallet to Tornado Cash, a cryptocurrency mixer designed to enhance privacy. Tornado Cash has gained notoriety for its role in facilitating illicit transactions, making it difficult for investigators to trace and recover stolen funds. The use of such services by the MonoSwap hacker suggests an attempt to conceal their identity and the trail of stolen assets.

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