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 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