|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Poloniex Hacker Breaks Six-Month Silence, Shifts Stolen Assets Stealthily
May 08, 2024 at 12:00 am
The perpetrator of the November Poloniex hack has resurfaced, moving portions of the stolen funds through the infamous mixer Tornado Cash to anonymize transactions. This dormant hacker's recent activity resembles the tactics of the North Korean hacking group Lazarus, who have orchestrated similar large-scale crypto hacks and laundered over $200 million in the past three years.
Poloniex Hacker Resurfaces, Moving Stolen Assets in Stealthy Maneuver
Six Months of Silence Broken: Poloniex Hacker Stirs
The cyberattacker responsible for the infamous Poloniex hack of November 2023 has re-emerged, making clandestine movements of the stolen assets. This dormant period, spanning over half a year, has ended with a flurry of activity.
According to Arkham Intelligence, a wallet linked to the Poloniex hacker sprang back into action on Tuesday, May 7. Two significant transactions were detected: one involving the transfer of 1126 Ethereum (ETH), valued at approximately $3.5 million, and another, larger transaction of 501 Bitcoin (BTC), worth roughly $32 million, which occurred on April 30.
Tornado Cash: The Tool of Choice for Anonymity
In a departure from previous tactics, the recent ETH transfer took a more covert route. Instead of being directly sent to another wallet, the hacker employed the notorious mixer Tornado Cash. This tool, known for its ability to obscure cryptocurrency transactions, was utilized to launder the stolen funds by dispersing them across multiple wallets, effectively obfuscating their trail.
Lazarus: A Suspect with Striking Resemblances
While the true identity of the Poloniex hacker remains elusive, the modus operandi bears striking similarities to the North Korean-backed hacker group Lazarus. The magnitude of the Poloniex loot echoes previous large-scale thefts orchestrated by Lazarus, including the Harmony Protocol hack ($100 million), the Stake.com heist ($41 million), and the Atomic Wallet cyber attack ($25 million).
Furthermore, the use of Tornado Cash in the Poloniex hack mirrors Lazarus's documented tactics. The mixer has been a preferred tool for the group, enabling them to conceal transaction paths and evade detection. Over the past three years, Lazarus has successfully executed over 25 hacks, amassing over $200 million in illicit gains.
Poloniex Hack: A Major Loss for the Industry
The Poloniex hack of 2023 stands as a significant setback for the cryptocurrency industry. The stolen assets, totaling $170 million in value, comprised 25,563 ETH, 305,042 TRX, 626 BTC, and 364,292 BTCT. The hacker's recent movements have sparked concerns about potential laundering of the remaining stolen funds.
Legal Action and Regulatory Challenges
In August 2023, the US Justice Department imposed sanctions on Tornado Cash for its facilitation of money laundering by illicit actors. The anonymity of crypto hacks and the presence of numerous malicious players pose significant challenges in attributing the Poloniex hack to Lazarus or any other group.
Implications and Future Outlook
The Poloniex hack continues to cast a shadow over the cryptocurrency industry. The recent resurgence of the attacker serves as a sobering reminder of the ongoing threats posed by cybercriminals. While regulatory bodies and law enforcement agencies intensify their efforts to combat these threats, the need for increased vigilance and robust security measures remains paramount.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- PEPE Coin (PEPE) Shows Ascending Triangle Pattern, Arthur Hayes' Move Boosts Potential Amid Market Rally
- Sep 28, 2024 at 06:25 am
- A recent analysis by the trader and analyst known as Bluntz reveals that Pepe Coin, an Ethereum-based memecoin, shows an ascending triangle pattern
-
- XRP Struggles to Keep Pace With Broader Crypto Market Rally as User Participation in the XRP Ledger Blockchain Declines
- Sep 28, 2024 at 06:20 am
- XRP has struggled to keep pace with the broader crypto market rally that began last week following the Federal Reserve's interest rate cut.
-
- NYT ‘Connections’ Puzzle: Here Are the Categories and Answers for September 28
- Sep 28, 2024 at 06:20 am
- Connections is a New York Times puzzle game where players have to figure out “connections” between various words and arrange them into groups of four.
-
- Popular Crypto Expert Sherpa Expresses Bullish Sentiments on RWA Token MANTRA (OM), Shares Thoughts on SOL, FTM, and SUI
- Sep 28, 2024 at 06:20 am
- Sherpa predicts that the native token of the RWA blockchain, MANTRA (OM), could climb around 16% from its current price
-
- Mango Markets Agrees to Destroy MNGO Tokens in SEC Settlement
- Sep 28, 2024 at 06:20 am
- Mango DAO, Mango Labs and Blockworks Foundation agreed to settle charges with the U.S. Securities and Exchange Commission Friday.
-
- Dogecoin (DOGE) Rival Dogwifhat (WIF) Looks Ready to Skyrocket, Crypto Analyst Says
- Sep 28, 2024 at 06:20 am
- A widely followed crypto analyst says that one dog-themed memecoin that has printed six-figure gains in just ten months is on the brink of another breakout.
-
- Dogecoin (DOGE) Primed for a Price Boost as Metrics Signal Bullish Breakout
- Sep 28, 2024 at 06:20 am
- A slew of metrics indicate the top meme asset Dogecoin (DOGE) could be primed for a price boost, according to a popular crypto trader.
-
- Shiba Inu (SHIB) Spikes Over 20% in the Last 24 Hours, Nearing Critical Resistance Level
- Sep 28, 2024 at 06:20 am
- Shiba Inu [SHIB] has recently experienced a significant price spike, bringing it close to breaking another critical resistance level. This upward movement has drawn increased attention, making SHIB one of the top trending cryptocurrencies.
-
- SUI and BNB Have Been Making Headlines, but the Real Buzz Is Swirling Around the Presale of BlockDAG
- Sep 28, 2024 at 06:20 am
- This comprehensive guide will delve into the intricacies of investing in these cryptocurrencies, unpack the hype, and provide you with the strategic insights needed to potentially enhance your investment outcomes.