Ethereum

Tornado Cash

The Nomad

Tornado

Nomad

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/hackers-capitalize-on-ethereum-dip" data-wpel-link="internal" rel="noopener noreferrer nofollow">Hackers Capitalize on Ethereum Dip</a><br></p>
<p style="text-align: justify">Ethereum (ETH) experienced a sharp decline of 22% within the last 24 hours, and a 33% drop over the week. This downturn follows reports that Jump Crypto has been unloading its ETH holdings, a move believed to be linked to an ongoing CFTC investigation initiated in June in the US.</p>
<h2 id="why-did-hackers-buy-during-the-drop">Why Did Hackers Buy During the Drop?</h2>
<p style="text-align: justify">Recently, an intriguing buying activity emerged as the price of ETH plummeted. Some <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> view significant price drops as buying opportunities, and it appears hackers from the Nomad Bridge heist are no exception.</p>
<p style="text-align: justify">The Nomad Bridge <a href="https://newslinker.co/what-is-cybersecurity/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">hack</a> in 2022 saw $190 million in various altcoins stolen using a chaotic copy-paste method. On-chain data now reveals these hackers spent $39.75 million in DAI to acquire approximately 17,000 ETH just hours ago.</p>
<h2 id="how-are-hackers-concealing-their-purchases">How Are Hackers Concealing Their Purchases?</h2>
<p style="text-align: justify">Following the acquisition, on-chain data indicates that the hackers are attempting to hide the trail of their funds by depositing the newly purchased ETH into Tornado Cash, a cryptocurrency mixer platform.</p>
<h2 id="key-takeaways-from-the-incident">Key Takeaways from the Incident</h2>
<p style="text-align: justify">– The sharp price drop of ETH presents buying opportunities for both ordinary investors and malicious actors.</p>
<p style="text-align: justify">– On-chain data is crucial for tracking suspicious transactions and understanding market movements.</p>
<p style="text-align: justify">– The use of crypto mixer platforms like Tornado Cash helps hackers obscure their financial tracks.</p>
<p style="text-align: justify">As the global market turmoil continues to affect cryptocurrencies, the Nomad Bridge hackers’ activity during ETH’s price drop stands out. Experts suggest that the rapid decline of Ethereum, a major altcoin, represents a buying opportunity, potentially indicating an impending end to the downtrend and selling pressure.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/hackers-capitalize-on-ethereum-dip" data-wpel-link="internal" rel="noopener noreferrer nofollow">Hackers Capitalize on Ethereum Dip</a></h5>

Hackers Capitalize on Ethereum Dip

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