Crypto

$63M From $282M Crypto Wallet Hack Routed Through Tornado Cash

2 hours ago
Bitcoin Ethereum News

Key Notes

  • CertiK said at least 686 BTC was swapped cross-chain into 19,600 ETH, while raising concerns of money laundering.
  • This money is now moving into crypto-mixer Tornado Cash, which will make further tracing of funds even more difficult.

  • On January 10, the attacker gained access by impersonating wallet support staff, compromising holdings of 1,459 BTC and 2M+ Litecoin.

On Jan. 19, blockchain security firm CertiK reported that nearly $63 million have more to crypto mixer Tornado Cash

TORN
$11.59



24h volatility:
4.1%


Market cap:
$44.17 M



Vol. 24h:
$2.02 M

, in fresh deposits.

The amount is linked to the $282 million crypto wallet theft that happened on Jan. 10.


Crypto Wallet Hacker Moves Money to Tornado Cash

Blockchain security firm CertiK said its monitoring systems detected Tornado Cash interactions linked to the recent $282 million crypto wallet exploit.

This has drawn attention from multiple crypto investigators due to the scale of losses in the crypto hack and the speed at which funds were moved.

CertiK reported that a portion of the stolen Bitcoin

BTC
$92 951



24h volatility:
2.2%


Market cap:
$1.86 T



Vol. 24h:
$43.02 B

was bridged to Ethereum

ETH
$3 214



24h volatility:
3.5%


Market cap:
$387.92 B



Vol. 24h:
$29.17 B

, swapped into Ether, and then distributed across multiple addresses.

The firm said at least 686 BTC was bridged via a cross-chain swap, resulting in 19,600 ETH sent to a single Ethereum wallet.

The funds were later split across multiple wallets, with each address forwarding several hundred ETH before being routed through Tornado Cash.

CertiK noted that the $63 million estimate represents only part of the total losses.

He added that the transaction pattern shows a deliberate attempt to mask the trail after the initial cross-chain transfers.

Hacker Moves Funds Smartly to Avoid Tracking

Marwan Hachem, CEO of blockchain security firm FearsOff, said the fund movements after the Jan. 10 crypto theft reflect a well-known laundering pattern.

Blockchain investigator ZachXBT said the attacker allegedly impersonated wallet support staff to gain full access to the victim’s accounts, ultimately taking control of the ass

ets.

The compromised wallet reportedly held around 1,459 BTC and more than 2 million Litecoin

LTC
$70.81



24h volatility:
5.1%


Market cap:
$5.44 B



Vol. 24h:
$698.10 M

.

Hachem said the attacker used THORswap to convert Bitcoin into Ether. Later, he split the proceeds into batches of nearly 400 ETH before routing them into a mixing service.

He called it a “textbook” approach to reduce visibility and complicate tracking.

He described Tornado Cash as a major “kill switch” for traceability. Hachem said that the likelihood of recovering funds usually “drops to near zero” once assets pass through a crypto mixer.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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Source: https://www.coinspeaker.com/63m-from-282m-crypto-wallet-hack-routed-through-tornado-cash/