Stablecoins Worth $600k From 2021 DAO Maker Hack Sent Via Tornado Cash

Tornado Cash has found itself, once again, as the nexus of funds stolen from the DeFi protocol.

The Ethereum wallet address linked to the exploiter of the DAO Maker breach from 2021 sent $600,000 worth of DAI stablecoin through the controversial coin mixer.

• According to the security of the blockchain firmPeckShield, the wallet has been dormant for over 200 days.
• The move was detected nearly seven months after another scalper’s linked wallet transferred $500,000 of DAI using Tornado Cash.
• For starters, DAO Maker, a fundraising platform for crypto projects (unrelated to the widely known MakerDAO), was hacked in August 2021, draining over $7 million.
• The attacker gained access to the platform’s balance by taking advantage of a flaw in the DAO Maker contract affecting more than 5,000 USDC holding accounts.
• Hacks continue to wreak havoc in the field of decentralized finance. Malicious entities have targeted these protocols as the cryptocurrency market goes through another bullish trend in 2021.
• DeFi protocols became by far the biggest victims of hacks, accounting for more than 82% of all digital assets stolen by hackers in the following year.
• During 2022, DeFi protocols posted a loss of $3.1 billion, up from 73.3% in 2021.
• The latest development comes in the background of the exploit of popular centralized cryptocurrency trading platform Bitrue. which reported losing $23 million worth of digital assets in the process.