The most recent monitoring data from on-chain analyst, Ember, revealed that a hacker involved in the Decentralised Exchange (DEX) Velocore's breach has moved 1,807 ETH (equating to approximately $6.88 million) into Tornado Cash within the last 45 minutes.
Previously launched on zkSync and Linea, Velocore fell victim to a cyber attack that led to the theft of users' Liquidity Provider (LP) tokens. The perpetrator managed to convert all appropriated assets into ETH, subsequently transferring these to the Ethereum mainnet using the cross-chain bridge.
Following the breach, all stolen ETH has now been transferred to a specific address, marking the successful laundering of roughly $6.88 million worth of ill-gotten ETH.
In response to these events, Velocore has confirmed a security breach within its protocol, resulting in significant liquidity loss. While their CPMM pool was impacted, the stable pool remained unaffected.
Vowing to take all necessary measures to resolve the issue, Velocore is currently collaborating with security teams and foundations while urging Centralised Exchanges (CEX) to freeze the pilfered assets. Meanwhile, post-mortem inquiries are underway along with preparations for an on-chain negotiation process as the team seeks to track down the exploiter using left-behind clues.