Ethereum

Millions

April

Tornado Cash

Tornado

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/hacker-moves-millions-from-poloniex-exchange">Hacker Moves Millions from Poloniex Exchange</a><br></p>
<p style="text-align: justify"> In a recent cybersecurity breach, the cryptocurrency exchange Poloniex has suffered significant losses due to a hacker attack. The assailant transferred a substantial amount of Ethereum (ETH), valued at approximately $3.3 million, to Tornado Cash, a controversial cryptocurrency mixer currently under U.S. sanctions. This movement saw the transfer of 1,100 ETH in several transactions, each containing 100 ETH. </p> 
<h2 style="text-align: justify" id="details-of-the-recent-ethereum-transfer">Details of the Recent Ethereum Transfer</h2> 
<p style="text-align: justify"> The stolen Ethereum had remained dormant for 178 days before the hacker initiated the transfer to Tornado Cash. This incident follows a previous transaction where 501 Bitcoins (<a href="https://en.bitcoinhaber.net/exploring-the-current-downtrend-in-bitcoin-prices">BTC</a>), worth around $32 million, were moved to another wallet on April 30. Such activities have raised concerns among <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank">market</a> observers about potential liquidation of the stolen assets. </p> 
<h2 style="text-align: justify" id="legal-status-of-tornado-cash">Legal Status of Tornado Cash</h2> 
<p style="text-align: justify"> Despite sanctions imposed by the U.S. Treasury in 2022 after incidents involving North Korean hackers, Tornado Cash continues to operate. It serves as a tool for obfuscating the origins of illicitly obtained cryptocurrencies by mixing them with other funds, complicating the tracking process. This protocol’s continued use has been noted in various subsequent security breaches, including laundering activities by the Lazarus Group. </p> 
<h2 style="text-align: justify" id="concrete-implications-for-users-and-investors">Concrete Implications for Users and Investors</h2> 
<ul> 
 <li style="text-align: justify">Increased vigilance and enhanced security measures are crucial for users of digital wallets and exchanges.</li> 
 <li style="text-align: justify"><a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank">Investors</a> should monitor the regulatory developments surrounding tools like Tornado Cash, as these could impact the liquidity and legality of asset recovery.</li> 
 <li style="text-align: justify">Engagement with platforms that offer robust security features and transparent operations becomes more vital.</li> 
</ul> 
<p style="text-align: justify"> Furthermore, Arkham’s data analysis reveals that the hacker still possesses cryptocurrencies worth an estimated $181 million across various blockchains. This vast sum indicates the scale of the operation and the significant resources still at the hacker’s disposal. Market analysts and security experts continue to scrutinize these movements, emphasizing the critical nature of cybersecurity in the digital asset space.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/hacker-moves-millions-from-poloniex-exchange">Hacker Moves Millions from Poloniex Exchange</a></h5>

Hacker Moves Millions from Poloniex Exchange

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