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HomeCoinsEthereumWormhole attacker strikes $150m of stolen funds

Wormhole attacker strikes $150m of stolen funds

Funds tied to final February’s Wormhole assault seem like on the transfer, in accordance with numerous reviews that emerged on Monday, Jan. 23.

An Ethereum tackle tied to the assault (0x629e7…) has moved greater than $150 million of crypto.

Funds on the transfer

The attacker traded $157.2 million of Ethereum (ETH) for staked ETH (stETH), which they swapped for Lido’s wrapped staked ETH (wstETH) token. Subsequent, the attacker used wstETH as collateral for a $13 million DAI mortgage earlier than shopping for an equal quantity of ETH.

The truth that the attacker ended the sequence of trades with ETH⁠ — the identical asset they started with — suggests an try at cash laundering. Swapping holdings this fashion might make transaction trails more durable to research, very similar to utilizing a coin mixer.

ETH consumer Spreek famous that an assault on Binance Sensible Chain in October 2022 additionally noticed an attacker buy liquid staking derivatives (LSDs) with stolen cryptocurrency at a later date.

Although Spreek speculated that this might point out a connection between the 2 assaults, others instructed that one attacker could have imitated the opposite’s technique to obscure their exercise.

CoinsTeacher

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