Stablecoins Worth $600k From 2021 DAO Maker Hack Sent Via Tornado Cash
Tornado Cash has, once again, found itself as the nexus of pilfered funds from a DeFi protocol.
An Ethereum wallet address associated with the exploiter of the DAO Maker breach from 2021 sent $600,000 worth of DAI stablecoin through the controversial coin mixer.
According to the blockchain security firm, PeckShield, the wallet had been dormant for more than 200 days.
The movement was detected nearly seven months after another wallet linked with the exploiter transferred $500,000 worth of DAI using Tornado Cash.
For the uninitiated, DAO Maker, a fundraising platform for crypto projects (no relation to the more widely known MakerDAO), was exploited in August 2021, draining over $7 million.
The attacker was able to access the platform’s balance by taking advantage of a bug in DAO Maker’s contract affecting over 5,000 accounts holding USDC.
Hacks have continued to wreak havoc in the decentralized finance space. Malicious entities targeted these protocols as the crypto market went through another bull run in 2021.
DeFi protocols went on to become by far the biggest victims of hacks, accounting for over 82% of all digital assets stolen by hackers the following year.
Throughout 2022, DeFi protocols recorded a loss of $3.1 billion, up from 73.3% in 2021.
The latest development comes in the backdrop of an exploit on the popular centralized crypto exchange Bitrue. which reported a loss of $23 million worth of digital assets in the process.
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