Approximately $100 million worth of Ethereum was stolen in the Poloniex crypto exchange hack attack that took place in November 2023. Post-attack investigations showed that a large portion of the stolen Ethereum was anonymized through the Tornado Cash privacy protocol.
Developments in Poloniex
Although the hacker was detected after the attack, he did not return the stolen funds despite a $10 million reward offer. Blockchain security firm CertiK attributed the attack to a lack of private keys, and the exchange temporarily disabled the compromised wallet in response.
Six months later, a large portion of the stolen Ethereum was transferred to Tornado Cash, showing that the hacker had no intention of returning the stolen money. Research firm PeckShield determined that more than 17,800 Ethereum was moved to the Tornado Cash address. The total value of the tokens in this transfer was recorded as approximately 53.3 million dollars.
Important Step from Poloniex Team
Despite the negativities, Poloniex quickly returned to its activities. The exchange allowed investors to deposit and withdraw cryptocurrencies. In order to increase security measures, it started to cooperate with a high-level security audit company and announced that it will continue its services after the audit is completed.
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So who will benefit?
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I EXPLAIN IN DETAIL.
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WHEN WILL THE AWARD COME?
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