Penpi's Hacker Transfers $4.5M ETH to Tornado Cash, Following $27M Exploit
CryptoNewsTerminal Staff03 Sep, 2024
Penpi's Hacker Transfers $4.5M ETH to Tornado Cash, Following $27M Exploit
Penpi Hacker Transfers $4.5M ETH to Tornado Cash Blockchain security firm PeckShield alerted via Twitter that the "Penpie attacker address of cross-chain decentralized finance protocol Penpie, based on PENDLE, has transferred 1,900 ETH ($4.5 million) to popular cryptocurrency mixing protocol Tornado Cash." This incident follows an earlier exploit on Penpi, which resulted in a $27 million loss. By transferring the stolen funds to Tornado Cash, the hacker aims to obfuscate their trail and potentially launder the proceeds of the crime. Tornado Cash is a privacy-focused protocol that allows users to break the link between their cryptocurrency transactions and their personal identities. By mixing funds through multiple transactions, it becomes more difficult for investigators to trace the origin and destination of stolen funds. The transfer to Tornado Cash raises concerns about the potential impact on the Penpi ecosystem and the broader DeFi industry. It underscores the need for robust security measures and vigilance against malicious actors in the cryptocurrency space.
