Nomad Hacker Launders $35.2M Through Tornado Cash
CryptoNewsTerminal Staff08 Aug, 2024
Nomad Hacker Launders $35.2M Through Tornado Cash
Nomad, the cross-chain bridge that suffered a $190 million exploit in August 2022, has once again made headlines. According to blockchain security firm PeckShield, the attacker has transferred 14,500 ETH (approximately $35.2 million) to the cryptocurrency mixing protocol Tornado Cash (TORN). This move has raised concerns within the crypto community, as Tornado Cash has been sanctioned by the U.S. Treasury Department for facilitating illicit transactions, including money laundering. The transfer suggests that the Nomad attacker may be attempting to obscure the origin of the stolen funds. It remains to be seen whether law enforcement will be able to track and recover the laundered funds. However, the use of Tornado Cash by the Nomad attacker is a reminder of the challenges faced by authorities in combating crypto-related crime. As the crypto industry continues to evolve, regulators and law enforcement agencies are working to develop new tools and strategies to address these emerging threats. The Nomad incident highlights the need for increased vigilance and cooperation within the crypto ecosystem to prevent and mitigate such attacks in the future.
