Yearn Finance Hacker Moves $3.6M Via Crypto Mixer Tornado Cash
- The exploiter has recently transferred more over $3.6 million, or over 2000 ETH.
- Over 1 quadrillion Yearn Tether (yUSDT) were minted by the hacker last month.
Stablecoins worth $11.6 million were stolen in a cyberattack last month that targeted an earlier version of the Yearn Finance protocol. The exploiter has recently transferred more than $3.6 million, or over 2000 ETH, via Tornado Cash.
According to data from PeckShield, a blockchain analytics company, the exploiter is transferring money to new addresses before sending it to Tornado Cash. Since the attack, the perpetrator has moved $9.3 million in stacked transactions via Tornado Cash.
Over 1 quadrillion Yearn Tether (yUSDT) were minted by the hacker, as previously revealed by PeckShield. A hacker named Lanter traded those tokens for $11.6 million worth of other stable currencies. On the same day, the exploiter sent 1,000 ETH to the sanctioned crypto mixer.
Decline in Attacks Post Sanction
According to PeckShield, funds have been distributed across many addresses before being sent in layered transactions to the cryptocurrency mixer. A total of 4,134 ether were sent from an address associated with the yearn exploiter to the sanctioned crypto mixer.
Moreover, after penalties were imposed on the cryptocurrency mixer Tornado Cash. Blockchain intelligence company TRM Labs observed a precipitous decline in attacks during the first quarter of 2023.
About $400 million was taken in 40 separate assaults against cryptocurrency projects, according to the study, which is a 70% drop from the same time period in 2022. The penalties placed on Tornado Cash last year, which made it “difficult to launder the proceeds,” were cited as a contributing factor to the industry-wide shift towards legal proceedings against hackers.
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Read more: https://thenewscrypto.com/yearn-finance-hacker-moves-3-6m-via-crypto-mixer-tornado-cash/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
