Funds on the Move
Six months after the Poloniex crypto exchange hack, the stolen funds are starting to move. One of the hacker’s accounts transferred $3.5 million to a crypto mixer called Tornado Cash.
Hacker Launders Funds
The hacker sent 100 ETH ($308,000) to Tornado Cash from one account and later sent 1,100 ETH ($3.5 million) from another account. Tornado Cash helps hackers launder stolen funds by mixing them with other transactions.
Poloniex Breach
In November 2023, Poloniex was hacked, resulting in the theft of $125 million in crypto assets, including Ether, TRON, and Bitcoin.
Hacker Ignores Reward
Poloniex owner Justin Sun offered the hackers a 5% reward to return the funds, later increasing it to 10%. However, the hackers have not responded.
Lazarus Group Suspected
The Poloniex hack has been linked to the North Korean hacker group Lazarus Group.
Trust Score Drops
The hack has damaged Poloniex’s reputation, with its trust score dropping to 5 out of 10.
Privacy Concerns
The hacker’s use of privacy tools raises concerns about the misuse of such tools by criminals. However, financial privacy remains important for users’ security.
Crypto Hacks on the Rise
The Poloniex hack is part of a growing trend of crypto thefts. Experts urge investors to be vigilant and strengthen their security measures.
