Report has it that, a hacker responsible for the $125 million heist from Poloniex’s hot wallets last November has resurfaced on the blockchain radar. Recent data analysis has unveiled that the elusive cybercriminal has funneled 1,100 ether (ETH) – equivalent to approximately $3.3 million – through the sanctioned coin mixer, Tornado Cash.
The ethereal journey of these funds unfolded in discreet 100 ETH batches on Tuesday, marking a dormant period of 178 days before catching the attention of vigilant blockchain analysts. But this wasn’t the only maneuver executed by the Poloniex hacker. Just days before the ethereal spectacle, a staggering 501 bitcoins (BTC) valued at a hefty $32 million found their way to an unlabelled wallet on April 30, further perplexing investigators.
Despite these movements, the hacker’s coffers remain flush with ill-gotten gains, still holding a staggering $181 million worth of cryptocurrency dispersed across various blockchains, as detailed by Arkham data.
The tool of choice for laundering these digital spoils, Tornado Cash, operates as a protocol allowing users to obscure the origins of crypto tokens by meticulously mixing assets across multiple wallets over extended periods. Yet, its shadowy reputation precedes it. The U.S. Treasury Department sanctioned Tornado Cash back in 2022, following its exploitation by the North Korean hacking group Lazarus. This group infamously sought to cloak funds acquired from the audacious $625 million Axie Infinity exploit, leaving a trail of financial intrigue in its wake.
As authorities navigate the complexities of cybercrime in the digital age, the dance between hackers and enforcers continues, with each move scrutinized under the unforgiving gaze of blockchain transparency.
