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HomeNewsPoloniex Hacker Uses Tornado Cash: $3 Million ETH Moved in Latest Crypto...

Poloniex Hacker Uses Tornado Cash: $3 Million ETH Moved in Latest Crypto Shuffle!

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  • The first action taken by the hackers from Poloniex since the hack was the transfer of $3.3 million in ETH to Tornado Cash for money laundering.
  • The hacker is in possession of cryptocurrencies worth over $182 million, including ETH, TRX, BTC, and BTCT.

The Poloniex hacker, whose wallet address is 0x3E…fDFd, has started a number of significant cryptocurrency transactions today totaling millions of dollars, according to popular crypto journalist Collin Wu’s tweet. This is a turning point in the aftermath of the infamous hack of the Poloniex exchange.

Transparency through Tornado Cash

According to Arkham Intelligence reports, the hacker moved 100 Ether (ETH), or around $308,000, to Tornado Cash—a well-known cryptocurrency mixing service that is frequently used for money laundering—for the first time since the attack.

The transaction was part of a bigger scheme in which the hacker transferred around $3.3 million in 11 batches of 100 ETH each to Tornado Cash on Tuesday over the course of two hours. Following a protracted period of inactivity—the funds were inactive for 178 days—this step was taken.

The hacker currently has an estimated $182 million worth of cryptocurrency. This enormous amount consists of 305.042 million TRON (TRX) coins, valued at roughly $36.3 million; 25.563 ETH, valued at nearly $79 million; 501.626 Bitcoin (BTC), valued at approximately $32 million; and 364.292 Bitcoin Token (BTCT), valued at approximately $23.3 million.

According to CoinMarketCap, the price of ETH is currently around $3,070.57, having slipped 3.04% in the last 24 hours. Also, it shows a bearish position of 2.62% during the last 7 days.

Current Deals and Their Historical Background

According to PeckShield Alert, the hacker also made big moves last week when he divided 501 BTC, or $32 million, over three new wallet addresses. The biggest single transaction included sending $30.8 million, or 486.62 BTC, to one address.

Two smaller transactions totaling roughly $623,000 and $316,000, involving 10 and 5 BTC, were also transferred to different wallets.

The event is related to a security breach that occurred on November 10th, during which Poloniex’s hot wallet was breached, leading to a significant loss of more than $33 million.

Also, the hackers may have been from a North Korean hacker group, and it is almost impossible to get the funds back.

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Syofri
Syofri
Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628
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