Hacker Launders $19.4M in ETH via Tornado Cash
A hacker stole $27.3M, laundered $19.4M via Tornado Cash, and holds $9.75M in leveraged long positions.
- Hacker stole $27.3M via compromised multi-sig wallet.
- $19.4M in ETH laundered through Tornado Cash.
- Attacker holds $9.75M in leveraged long positions.
A major crypto exploit has caught the attention of the blockchain community. According to PeckShieldAlert, a hacker successfully compromised a multi-signature wallet and made off with assets totaling $27.3 million. Multi-signature wallets are designed for added security, requiring multiple approvals to authorize a transaction. Despite this, the attacker gained full control and executed the theft.
The stolen assets included large sums of Ethereum (ETH) and DAI, a stablecoin. Following the breach, the attacker moved quickly to begin laundering the funds.
$19.4M in ETH Laundered Using Tornado Cash
Blockchain analysis reveals that the attacker has already deposited 6,300 ETH—roughly $19.4 million—into Tornado Cash, a decentralized privacy tool used to obscure transaction trails on the Ethereum blockchain. Most recently, the hacker withdrew 1,000 ETH (around $3.24 million) from the lending protocol Aave, before funneling it through Tornado Cash.
Tornado Cash has long been under scrutiny due to its use in hiding illicit transactions, and this case adds to the ongoing debate about its impact on blockchain transparency and regulation.
Attacker Still Holding Risky Positions
Despite laundering a significant portion of the stolen funds, the hacker isn’t done yet. On-chain data shows the attacker is still actively trading. They currently hold leveraged long positions valued at $9.75 million, which include $20.5 million in ETH and $10.7 million in DAI. These trades suggest the hacker is betting on the rise of ETH prices, adding another layer of risk to their already bold actions.
As investigators and on-chain analysts continue to trace the movement of funds, this incident highlights the persistent challenges in securing digital assets—even those protected by advanced wallet technologies.
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