To everyone’s surprise, approximately $35.2 million, from the Nomad Bridge hack has recently been transferred to Tornando Cash. In a series of transactions, all amounting to 100 ETH, the hacker has successfully transferred 14,500 ether to the crypto mixer.
Blockchain security firm PeckShield reported that the stolen funds were moved to Tornado Cash, likely to obscure the origin of the stolen funds. This transfer indicates that the attackers are attempting to launder the cryptocurrency, potentially to cash out the funds.
This latest change comes after a similar transaction on August 5th, during which the price of ether experienced a 20% decline. During that time, 16,892 ether related to the Nomad Bridge event were purchased using ether.
The Nomad Bridge exploit, which occurred in August 2022, resulted in the loss of around $190 million due to a faulty software update that allowed anyone to drain the bridge’s funds. While some ethical hackers returned over $22 million of the stolen assets, the incident remains one of the notable hacks in the cryptocurrency space.
Tornado Cash, an open-source and non-custodial cryptocurrency mixer, has been under scrutiny from regulators for its role in facilitating the obfuscation of funds’ origins. Recently, its developer, Alexey Pertsev, was denied bail in the Netherlands after appealing a prison sentence of five years and four months, highlighting the ongoing legal challenges surrounding the mixer.
Furthermore, ether’s price has dropped by 3.21% today, suggesting larger changes in the market.
Also Read: Hackers Exploit Crypto Market Crash to Buy Discounted $40 Million Ether
