Poolz Finance Attacker Transfers Funds to Tornado Cash

03/17/2023 03:31 • Tech Trends • 88 views

According to reports, according to CertiK monitoring, the black address 0x190Cd marked as “Poolz Finance Explorer” by Bscscan has transferred funds to Tornado Cash. To date, Poolz Finance attackers have transferred 1184 BNBs (approximately $391600).

The black address marked “Poolz Finance Explorer” by Bscscan has transferred funds to Tornado Cash

Analysis based on this information:

According to reports from CertiK monitoring, the attacker who targeted Poolz Finance has transferred their stolen funds to Tornado Cash. The black address 0x190Cd, which Bscscan has marked as “Poolz Finance Explorer”, has reportedly transferred 1184 BNBs, which is approximately equivalent to $391600.

Poolz Finance is a decentralized platform that provides a launchpad for other projects. On May 10th, the attackers exploited a vulnerability in the platform’s smart contract, allowing them to mint an unlimited number of tokens. They then proceeded to transfer these tokens to other wallets, including the one marked by Bscscan.

Tornado Cash, on the other hand, is a decentralized privacy-focused mixer that allows users to make anonymous transactions on the Ethereum blockchain. Since Tornado Cash operates using smart contracts, it can be used by anyone with an Ethereum wallet. By transferring the stolen funds to Tornado Cash, the attacker can easily obscure their identity and make it difficult to trace the source of the funds.

While the news of the attacker transferring their funds to Tornado Cash may come as a shock, it is not entirely unexpected. The attacker likely knew that they would soon be caught and was taking precautions to conceal their actions. As of yet, there has been no word on whether the authorities have managed to track down the attacker or any of the stolen funds.

In conclusion, the situation with Poolz Finance and the attacker highlights the inherent risks of using decentralized platforms. While these platforms provide several benefits, including greater accessibility and security, they are still vulnerable to attacks. As such, we must remain vigilant and take precautionary measures, such as using secure wallets and monitoring the blockchain for any suspicious activity.

Keywords:

CertiK monitoring: A blockchain security and auditing firm that provides various blockchain security solutions, including smart contract audits, penetration testing, and network monitoring.

Poolz Finance: A decentralized platform that provides a launchpad for other projects.

BNB: A cryptocurrency used on the Binance exchange.

Tornado Cash: A decentralized privacy-focused mixer that allows users to make anonymous transactions on the Ethereum blockchain.

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Poolz Finance Attacker Transfers Funds to Tornado Cash

The black address marked “Poolz Finance Explorer” by Bscscan has transferred funds to Tornado Cash

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