Ethereum

Bunny

PancakeSwap

Tornado

Nomad

Lookonchain identified the transactions of the Nomad Bridge Exploiter. According to the post, the hackers have sent 39.75 million DAI to buy 16,892 Ethereum during the latest market dip.
Details from the on-chain smart money tracker show that hackers are buying more crypto to their portfolio even as the market is in panic mode with Bitcoin plunging below $50,000. The exploiters of Nomad Bridge have begun depositing their recently bought 16,892 ETH to Tornado Cash. The accumulation began as ETH price dropped to as low as $2,100.
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 Hackers bought <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ETH</a> at the bottom after the market dropped!
 The <a href="https://twitter.com/hashtag/Nomad?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Nomad</a> Bridge Exploiter spent 39.75M <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$DAI</a> to buy 16,892 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ETH</a> an hour ago and is depositing <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ETH</a> to <a href="https://t.co/11PfRBP2j2" rel="noopener noreferrer nofollow" target="_blank">https://t.co/11PfRBP2j2</a>.<a href="https://t.co/8pwhTFSnLw" rel="noopener noreferrer nofollow" target="_blank">https://t.co/8pwhTFSnLw</a>
 Crypto bridge <a href="https://twitter.com/hashtag/Nomad?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Nomad</a> was exploited for ~$200M on Aug 2, 2022.… <a href="https://t.co/9id6bxBR14" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/9id6bxBR14</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1820332406911672320?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">August 5, 2024</a>
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<h3 id="span-style-font-weight-400-pancakebunny-exploiter-buys-ethereum-dip-span">PancakeBunny exploiter buys Ethereum dip</h3>
The hackers of PancakeBunny have also made moves presumably aimed at leveraging the market dip. According to PeckShieldAlert, the hackers bought Ethereum when its price dropped. According to the details shared by the on-chain monitoring firm, the attackers swapped 7.8 million DAI for 2,922 ETH.
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 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#PeckShieldAlert</a> Our community contributor has detected that the <a href="https://twitter.com/hashtag/PancakeBunny?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#PancakeBunny</a> exploiter-labeled address aped into <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ETH</a> when the market dropped. The exploiter swapped 7.8M <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$DAI</a> for 2.922K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ETH</a>. On May 19, 2021, PancakeBunny’s Bunny Protocol fell victim to a flash loan attack,… <a href="https://t.co/wACNvYk0Rn" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/wACNvYk0Rn</a>
 — PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1820359039072747702?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">August 5, 2024</a>
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Binance Smart Chain-based DeFi protocol <a href="https://x.com/PancakeBunnyFin/status/1395173093333680136" target="_blank" rel="noopener noreferrer nofollow">PancakeBunny</a> was the victim of a large-scale exploit in May 2021. The attack allowed the hackers to loot over $200 million worth of crypto from the protocol. The hackers used PancakeSwap to borrow a huge amount of BNB.
They then manipulated the prices of USDT/BNB and BUNNY/BNB. This flash loan attack allowed them to receive a large amount of BUNNY through this flash loan attack. Following this, the hackers dumped all their BUNNY, which also sent the coin’s price crashing.
<h3 id="span-style-font-weight-400-hackers-buying-the-dip-as-the-global-crypto-market-cap-falls-below-2-trillion-span">Hackers buying the dip as the global crypto market cap falls below $2 trillion </h3>
The accumulation of Ethereum by these hackers comes at a time when the global crypto market cap has plunged by over 14% in the last 24 hours. The crypto market cap fell below $2 trillion for the first time in many months and now stands at $1.85 trillion.
Bitcoin has lost over 14%, falling as low as $49,000. Ethereum has moved in the same direction, as it lost over 21%, dropping to a low of $2,100.
The blockchain bridge Nomad was hacked in August 2022. The attackers managed to loot almost $200 million worth of cryptocurrency by exploiting a misconfiguration in the project’s main smart contract.
Paradigm researcher <a href="https://x.com/samczsun/status/1554252024723546112" target="_blank" rel="noopener noreferrer nofollow">Samczsun</a> posted on X after the attack, citing what really went behind the million-dollar hack. The flaw even allowed anyone to replace a person’s address with theirs once they found a transaction that worked. This made it possible for users to withdraw assets that were not even theirs.

Crypto hackers accumulate Ethereum during the crypto crash

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