Penpie hack shows just how crucial strong security measures are in the crypto world. Privacy tools like Tornado Cash might offer anonymity, but they can also become a loophole for illicit activities. This is why I'm grateful for projects like $FIRO that focus on ethical privacy, promoting transparency and accountability while protecting user data.
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Penpie Hacker Launders $36 Million in ETH Through Tornado Cash
Penpie Hacker Transfers Remaining ETH Holdings to Tornado Cash Blockchain security firm PeckShield has reported that the Penpie hacker address has transferred the last remaining 1,660 ETH to Tornado Cash. This brings the total amount laundered through Tornado Cash to 11,160 ETH, worth over $27 million. The Penpie hack was a major security breach that occurred in November 2022. The hacker gained access to the Penpie website and stole over $100 million in cryptocurrency. Law enforcement agencies are investigating the hack, and Tornado Cash has been cooperating with the investigation. However, the hacker has not yet been identified. The use of Tornado Cash to launder stolen cryptocurrency is a growing problem. Tornado Cash is a privacy-focused mixer that allows users to send and receive cryptocurrency anonymously. This makes it difficult for law enforcement agencies to track the flow of stolen funds. The Penpie hack is a reminder of the importance of cybersecurity. Businesses should take steps to protect their websites and cryptocurrency assets from hackers.
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