EOA Account Related to LianGo Protocol Exploitation Transfers $1.6 Million to Tornado Cash
It is reported that according to CertiK monitoring, the EOA account address (0xf5bf…) has transferred the funds to Tornado Cash. The EOA wallet is related to…
It is reported that according to CertiK monitoring, the EOA account address (0xf5bf…) has transferred the funds to Tornado Cash. The EOA wallet is related to the malicious exploitation of LianGo Protocol. At present, about 5300 BNBs (about US $1.6 million) have been transferred to Tornado Cash.
EOA account address (0xf5bf…) has transferred funds to Tornado Cash
Analysis based on this information:
According to reports from CertiK monitoring, a wallet address related to the malicious exploitation of the LianGo Protocol, known as EOA account (0xf5bf…), has transferred approximately 5300 BNBs to Tornado Cash, amounting to about $1.6 million. This transfer raises concerns about the possible use of Tornado Cash for laundering these crypto funds.
The EOA wallet address has been linked with a recent attack on the LianGo Protocol, where the attackers exploited the protocol’s smart contract to steal about $11 million in cryptocurrency. LianGo is a decentralized finance (DeFi) project built on the Binance Smart Chain (BSC).
Tornado Cash is a privacy-focused decentralized application (DApp) that allows users to mix their crypto transactions to obscure their origin, making it challenging to track the flow of funds. While Tornado Cash has legitimate uses, it is also popular among cybercriminals and money launderers, as it helps them hide their illicit activities and make it difficult for law enforcement to identify them.
The transfer of the stolen funds to Tornado Cash raises questions about the intentions of the hackers. It could imply that the attackers are trying to launder the stolen funds by mixing them with other legitimate transactions to obfuscate their origin and make it challenging to trace the funds’ flow. Alternatively, they could be preparing for a second phase of attacks on other DeFi projects, using the stolen funds as capital.
CertiK monitoring is an automated security and blockchain auditing platform that analyses smart contracts and blockchain networks for vulnerabilities and security risks. Its monitoring activities help detect malware activities early and prevent further harm to the users of blockchain networks.
In conclusion, the transfer of the stolen funds to Tornado Cash highlights the importance of having robust security measures and monitoring tools in place to detect and prevent malicious activities in the DeFi ecosystem. It also underscores the need for increased efforts to regulate and enforce strict compliance standards on the cryptocurrency industry.
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