Exploiters of Nomad Bridge bought a significant chunk of Ethereum from the stolen funds.
Nomad Exploiter used Tornado Cash and CoW to wipe out the origin and designation data of the cryptocurrency.
ETH lost more than 24% of its trading price; at the press time, it was trading at $2,287.
The market has been hustling for the past 24 hours, and almost all major cryptocurrencies are trading in the red; according to reports, the hackers of the Nomad blockchain recently bought a chunk of Ethereum from the funds wiped out from different hacks and breaches.
According to on-chain data, addresses reported as Nomad Exploiter 2 have bought 16,892 Ether, amounting to $37.7 Million. The exploiter wisely bought ETH at a lower price as the market was tumbling on its verge.
It is crucial to note that following the swap of DAI for Ethereum using CoW, the exploiter moved around 2,400 Ether to Tornado Cash. The hacker followed the process in order to hide or clear the origin and designation of the ETH.
CoW is a decentralized exchange that offers a fully permissionless trading protocol that leverages Batch Auctions to find prices. Market analysts largely claim that hackers involved in other breaches and attacks have also been buying crypto since the decline.
Ethereum (ETH) Price Overview
For the past 24 hours, Ethereum and other major cryptocurrencies have been bleeding to the verge. ETH lost more than 24% of its trading price; at the press time, it was trading at $2,287.
The trading volume of Ethereum soared more than 210% intraday, and the unprecedented growth in trading volume made ETH the 3rd most traded crypto. Its market capitalization declined 22%, reaching $275.99 Billion.
Crypto Market Updates
The global cryptocurrency market capitalization slips by 18.64%, reaching $1.75 Trillion after quite an extended period.
Lido DAO (LDO) topped the intraday loser list as its price slipped 29.86%, reaching $0.9454. Its intraday trading volume grew surprisingly by 938.24%, reaching $693,431,496, which makes it the 15th most traded cryptocurrency.
The total volume in DeFi is currently $11.38B, 5.31% of the total crypto market 24-hour volume. The volume of all stablecoins is now $202.33B, 94.34% of the total crypto market 24-hour volume.
This severe turbulence has directed billions of dollars out of the market, and Pepe (PEPE), the popular memecoin, lost 29% of its trading value. The memecoin category is battling significant volatility, losing 20% of its market capitalization.
