Phisher who stole $24.2 Million Worth of Ethereum Transfers Funds to Tornado Cash, Peckshield Says

A phisher who stole about $24.2 million of staked Ethereum (ETH) from a crypto whale is transferring the belongings to crypto mixing agency Twister Money, says blockchain safety agency Peckshield.

The stolen cryptocurrencies have been liquid staking tokens together with Lido Staked Ether (stETH) and Rocket Pool ETH (rETH), Peckshield stated. 

#PeckShieldAlert The phisher, who grabbed ~$24.2M price of $rETH & $stETH, has transferred 701 $ETH (~$1.15M) to #TornadoCash

The phisher at the moment holds $22.7M price of cryptos, together with 13.1K $ETH and 1.1M $DAI pic.twitter.com/GODpSp51wO

— PeckShieldAlert (@PeckShieldAlert) September 8, 2023

The safety agency stated that the phisher initially transferred 701 Ethereum (ETH) tokens price about $1.15 million to the cryptocurrency mixer, after which exchanged 28,000 DAI tokens for 17.3 ETH and subsequently moved 1,100 ETH ($1.78 million) to Twister Money. 

Later, the phisher transferred 2,000 ETH price about $3.1 million to a brand new pockets tackle, and despatched 600 ETH to Twister Money. At present, the attacker holds a complete of $22.7 million in numerous cryptocurrencies together with 13,100 ETH and 1.1 million DAI tokens, Peckshield stated.

Replace: The phisher transferred 2,000 $ETH ($3.1M) to a brand new tackle 0x71C8…790e, ~600 $ETH was despatched to #TornadoCash. pic.twitter.com/IkqASk5pvi

— PeckShieldAlert (@PeckShieldAlert) September 12, 2023

Peckshield stated on Sept. 7 that the attacker exchanged the stolen belongings for 13,785 ETH and 1.64 million Dai (DAI), a stablecoin valued at $1.00. A substantial portion of the acquired DAI has already been moved to FixedFloat, a completely automated cryptocurrency trade.

Authorized Problem and Sanctions

Twister Money was sanctioned in August final yr for its alleged involvement in cash laundering, a observe it was accused of since its institution in 2019. The Justice Division says it was accountable for enabling over $1 billion in cash laundering actions, with a good portion of those funds believed to have benefitted North Korea’s Lazarus Group. 

U.S. authorities say that the Lazarus Group’s illicit actions have offered monetary assist to North Korea’s nuclear weapons and ballistic missile packages.

Final month, a court docket choice within the US reaffirmed sanctions in opposition to Twister Money. Six Twister Money customers had challenged these sanctions, however the court docket upheld the ban, ruling that the plaintiffs’ claims of constitutional violations weren’t compelling sufficient.

Twister Money’s Personal Ethereum Transactions

Twister Money gives a platform for customers to make their Ethereum transactions extra personal. That is performed by combining their funds with these from different cryptocurrency holdings. This course of successfully hides the origin of a cryptocurrency transaction, making Twister Money a pretty choice for cybercriminals searching for to transform their ill-gotten good points.

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