Ethereum

Solana

ZachXBT

TRON

Tornado

Blockchain sleuth ZachXBT says Slope Wallet founder Leal Cheung created a new project immediately after the hack.
Victims of Slope Wallet hack, which suffered a $4 million loss in August 2022, are “unlikely” to see anything returned given that the team behind the project took no responsibility.
A well-known blockchain investigator ZachXBT <a href="https://twitter.com/zachxbt/status/1711748065822973957" target="_blank" rel="noopener noreferrer nofollow">wrote in an X thread</a> on Oct. 11, that the hacker successfully transferred the stolen crypto from Solana to Ethereum through “Binance nested exchanges.” Later, the bad actor laundered the funds through Tornado Cash, a sanctioned crypto mixer built on the Ethereum blockchain.
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 1/ What happened to the funds from the <a href="https://twitter.com/slope_finance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@slope_finance</a> $4M hack? Here’s my analysis tracing the latest movements in 2023 and where the stolen funds ended up going. <a href="https://t.co/6gVnqhYaiP" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/6gVnqhYaiP</a>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1711748033954590900?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 10, 2023</a>
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Trying to cover up the traces, the hacker bridged the laundered crypto between Ethereum and TRON using SWFT, a cross-chain bridge. Although it’s unclear if the cybercriminal transferred all of the stolen funds from the Solana network, ZachXBT says the laundered funds are eventually settled on the TRON network in the form of the USDT stablecoin through several “active addresses with prior USDT transaction history.”
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 “Typically these types of addresses are small services/OTCs used to cash out funds P2P.” <cite>ZachXBT, crypto investigator</cite>
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The blockchain investigator also urged users to avoid interactions with zkME, a new crypto startup supposedly created by the Slope Wallet founder Leal Cheung, who abruptly left his previous project after the hack.
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Slope Wallet appeared to be the key source of a hack in which users lost millions of dollars in crypto. As crypto.news <a href="https://crypto.news/solana-team-links-exploit-to-imported-slope-finance-wallets/" target="_blank" rel="noopener noreferrer nofollow">reported</a>, Slope Wallet allegedly logged user seed phrases on centralized servers, which eventually were compromised.
Shortly after the hack, Slope issued its statement, acknowledging the incident. However, the Slope team didn’t detail what happened, nor has the company accepted responsibility for the attacks so far.
Read more: <a href="https://crypto.news/crypto-scammers-and-hackers-stole-889m-in-q3-2023/" rel="noopener noreferrer nofollow"> Crypto scammers and hackers stole $889m in Q3 2023 </a>

Slope Wallet hacker bridged funds to TRON, cashed out through OTCs

crypto.news

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