🚨 Crypto Hackers Buy Ethereum Dip Using Stolen Funds 🚨
Cryptocurrency hackers have capitalized on the recent market crash, utilizing stolen funds to purchase discounted Ether (ETH). Here are the key details:
💰 Hackers Exploit the Market Crash
- Event: Ongoing market crash presents an opportunity for hackers to buy Ether at a discount.
- Stolen Funds: Used stolen cryptocurrency from previous heists to purchase ETH.
📉 Massive Ether Purchase
- Date: August 5
- Quantity: 16,892 Ether (ETH) purchased
- Stolen Funds Source: Linked to the 2022 Nomad bridge hack.
- Market Impact: Ether lost over 20% of its value in under 12 hours, dropping from approximately $2,760 to $2,172.
🛠️ Hackers' Tactics
- Fund Usage: 39.75 million stolen Dai (DAI) tokens used to buy ETH.
- Movement of Funds: Post-purchase, funds moved to Tornado Cash, a crypto mixer.
- Purpose: To deter on-chain traceability and avoid returning stolen funds.
🔍 Investigations and Findings
- Lookonchain's Analysis: Tracked the hacker's purchase and movement of funds.
- PeckShield's Findings: Hacker sent 17.75 ETH to an intermediary Ethereum address and transferred approximately 2,400 ETH (worth around $7 million) to Tornado Cash.
🐰 Pancake Bunny Hack Update
- Additional Activity: Stolen funds from the Pancake Bunny hack are also being moved amidst market uncertainty.
- Error in Transfer: Hacker mistakenly sent 3.6 million DAI to a stablecoin address, losing the funds.
- Confirmation: Officer CIA confirmed the loss of stolen funds due to the transfer error.
- Recent Activity: On July 8, the Pancake Bunny hacker siphoned $2.9 million worth of Ether through Tornado Cash.
⚠️ Important Note
- Risk of Irreversible Loss: Sending crypto tokens to unsupported wallets can result in permanent loss of funds.
Stay vigilant and informed about the latest activities in the crypto space to protect your assets and make informed decisions.
