Hacker sends $2.5 to Tornado Cash via Etherscan

According to data from Etherscan, the hacker has sent over $2.5 to Tornado Cash.

The attacker who exploited the leading cryptocurrency derivatives exchange Deribit last week has started moving the stolen funds. It is not clear where the attacker is moving the funds or what they plan to do with them, but this latest development underscores the need for greater security in the cryptocurrency space.

It is clear that the hacker is attempting to launder the stolen Ether by moving it to a U.S.-sanctioned crypto mixer. However, it is also clear that they are not successful in doing so, as they have only moved a small portion of the total stolen amount.

What Happened?

It is unfortunate that Deribit fell victim to a hot wallet exploit, losing $28 million in the process. The hacker made off with a significant amount of cryptocurrency, including Bitcoin (BTC), ETH, and USD Coin (USDC). This is a reminder that even the most well-protected wallets can be vulnerable to attack.

The recent attack on the Deribit exchange has caused many users to lose confidence in the platform. However, Deribit has assured users that all losses will be covered by its reserves, and that their assets are safe. This pause in withdrawals and deposits is only temporary, and Deribit is working hard to ensure that this type of incident does not happen again.

The cryptocurrency exchange Deribit has resumed operations after migrating all of its hot wallets to the crypto custodian Fireblocks. The exchange has also instructed users to refrain from sending funds to their previous BTC, ETH, and USDC addresses, as they could be exploited again. Users are asked to use Fireblocks deposit addresses instead.

Deribit Stolen Funds on the Move

According to data from Ethereum block explorer Etherscan, the attacker moved 1,610 ETH in 17 transactions, 16 with 100 ETH and one with 10. This represents a significant loss for the platform, and highlights the need for improved security measures to protect user funds.

The attacker's initial transfer of 9,080 ETH to the depositing address on the day of the exploit was worth over $11.8 million at press time. The wallet address held 7,501 ETH, making it one of the largest attacks in recent history.

Hackers continue to target major corporations

With the recent string of hacks affecting DeFi projects, it's important to be vigilant about security. Deribit's exploit is a reminder that we can't let our guard down. We need to continue to work hard to make sure that our systems are secure.

Hackers are proving to be a major problem for the cryptocurrency industry, as they continue to find new ways to exploit vulnerabilities in crypto platforms and smart contracts. In just the first week of November, hackers have stolen more than $30 million from various crypto projects, including Skyward Finance. Unless the industry can find a way to better secure its platforms and contracts, this problem is only going to get worse.

The post Deribit Hacker Has Started Moving the Stolen $28M to Tornado Cash appeared first on CryptoPotato. The hacker who stole $28 million from Deribit has started to move the funds to Tornado Cash, a decentralized mixer that makes it difficult to trace the origins of cryptocurrency.