Ethereum

<p>In a recent turn of events in the blockchain world, a mysterious figure behind the Polynetwork exploit has made significant moves, raising concerns and questions about the networks’ security. The exploit, initially detected by PeckShield, has captured the attention of <a href="https://blockchainreporter.net/glossary/web-3-0/" rel="noopener noreferrer nofollow">Web3</a> watchdogs as millions of dollars worth of <a href="https://blockchainreporter.net/ethereum-price/" rel="noopener noreferrer nofollow">Ethereum (ETH) </a>continues to change hands.</p><p>PeckShield, a reputable blockchain monitor, first reported that the exploiter’s labeled address, 0xdBDA, transferred 801 ETH, valued at approximately $1.3 million, to a new address, 0xdBDA…874d.  This came after the exploiter encountered difficulties in transferring ETH to TornadoCash. Additionally, PeckShield noted that block data on Polygon was not up to date on polygonscan, adding an element of uncertainty to the situation.</p><h2 id="header-0">Movements into Tornado cash</h2><p>However, the plot thickened when the Web3 watchdog updated the situation. Using the same labeled address 0xdBDA, the exploiter transferred a whopping 1,500 ETH, equivalent to around $2.5 million, to the privacy-focused <a href="https://blockchainreporter.net/defi/" rel="noopener noreferrer nofollow">DeFi</a> protocol, TornadoCash.</p><p>The <a href="https://www.poly.network/" rel="noopener noreferrer nofollow">Polynetwork</a> exploit has been intensely scrutinized since it was first discovered. As the exploit’s actions evolve, security experts, developers, and the broader blockchain community are left pondering the motivations and implications behind these transactions. The exploiter’s ability to move such substantial sums of ETH underscores the importance of maintaining robust security measures within the blockchain <a href="https://blockchainreporter.net/glossary/digital-asset-ecosystem/" rel="noopener noreferrer nofollow">ecosystem</a>.</p>

Exploiter Shifts Funds: Over $2.5M in ETH Transferred to TornadoCash

Table of Contents

BlockchainReporter

Other articles published on Sep 11, 2023

Phronesis Launches world's first L1 Blockchain Leveraging AI and the Sophia Protocol

Sushi Plans Expansion to Aptos Blockchain

Senators Blumenthal and Hawley Introduce Bipartisan AI Legislation

Animoca Brands raises $20m to launch Mocaverse

Xenna Ver. 0.12.0 — Get Ready for the X.L.R. NERGAL Base Tournament & Meta Changes!

India explores new features for CBDC amid weak retail activity

Join our free newsletter for daily crypto updates!