PeckShield: Sonne Finance Exploiter Launders $6.2M in ETH via Tornado Cash

IconCryptoNewsTerminal Staff28 May, 2024

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PeckShield: Sonne Finance Exploiter Launders $6.2M in ETH via Tornado Cash

On Tuesday, blockchain security company PeckShield reported that the individual behind the exploit of Optimism (OP)-based decentralized finance (DeFi) protocol Sonne Finance (SONNE) had transferred 1,600 ETH, equivalent to roughly $6.2 million, to the crypto mixing service Tornado Cash (TORN). On February 15th, Sonne Finance fell victim to an exploit that resulted in the theft of $20 million in cryptocurrency assets from the DeFi protocol. To avoid detection and trace, cybercriminals frequently turn to crypto mixers like Tornado Cash to launder stolen funds. By breaking the link between the source and destination addresses, these services make it harder to track the flow of illicit cryptocurrencies. PeckShield's findings highlight the constant dangers of DeFi exploits and the role of crypto mixers in facilitating money laundering in the cryptocurrency industry. It is crucial for DeFi protocols to prioritize security measures and for law enforcement agencies to collaborate in combating such attacks.

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