Ethereum

Solana

ZachXBT

TRON

Tornado

<div class="cryptonews">
 <p class="is-style-lead">Blockchain sleuth ZachXBT says Slope Wallet founder Leal Cheung created a new project immediately after the hack.</p>
 <p>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.</p>
 <p>A well-known blockchain investigator ZachXBT wrote in an X thread 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.</p>
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    <p lang="en" dir="ltr">1/ What happened to the <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a> from the @slope_finance $4M hack? <br><br>Here’s my <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> tracing the latest movements in 2023 and where the stolen <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a> ended up going. pic.twitter.com/6gVnqhYaiP</p>— ZachXBT (@zachxbt) October 10, 2023
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 <p>Trying to cover up the traces, the <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> <a rel="noopener noreferrer nofollow" title="bridge" href="https://thebittimes.com/tag/bridge.html">bridge</a>d the laundered crypto between Ethereum and TRON using SWFT, a cross-chain <a rel="noopener noreferrer nofollow" title="bridge" href="https://thebittimes.com/tag/bridge.html">bridge</a>. Although it’s unclear if the cybercriminal transferred all of the stolen <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a> from the Solana network, ZachXBT says the laundered <a rel="noopener noreferrer nofollow" title="funds" href="https://thebittimes.com/tag/funds.html">funds</a> are eventually settled on the TRON network in the form of the USDT stablecoin through several “active addresses with prior USDT transaction history.”</p>
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  <p>“Typically these types of addresses are small services/OTCs used to cash out funds P2P.”</p> <cite>ZachXBT, crypto investigator</cite>
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 <p>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.</p>
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 <p>Slope Wallet appeared to be the key source of a hack in which users lost millions of dollars in crypto. As crypto.news reported, Slope Wallet allegedly logged user seed phrases on centralized servers, which eventually were compromised.</p>
 <p>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.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/slope-wallet-hacker-bridged-funds-to-tron-cashed-out-through-otcs-tbt65970.html">https://thebittimes.com/slope-wallet-hacker-bridged-funds-to-tron-cashed-out-through-otcs-tbt65970.html</a></p>

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

TheBitTimes

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