From 24/7 Wall St. · Sam Daodu · · 1m 50s
Hacker Moves $270M Stolen Crypto to Tornado Cash
Hacker behind $270m crypto theft shifts funds to Tornado Cash mixer, raising recovery questions.
In brief
Hacker behind $270m crypto theft shifts funds to Tornado Cash mixer, raising recovery questions. A hacker who stole $270 million from Drift Protocol is moving stolen Ethereum to Tornado Cash, making recovery nearly impossible due to blockchain mixing. Originally reported by 24/7 Wall St..
Hacker Moves Stolen Funds
The hacker behind the $270 million theft from Drift Protocol sent 25,700 ETH to Tornado Cash after two months of silence.
Tornado Cash Mixes Funds
Tornado Cash is a crypto mixer that blends users’ coins together, making it hard to trace which coins belong to whom.
Hacker Holds $195M ETH
The hacker still holds 81,864 ETH, worth about $195 million at current prices, suggesting this could be the start of a larger laundering effort.
North Korean Hackers Spent Six Months
North Korean intelligence conducted a six-month operation using social engineering tactics to exploit Drift Protocol.
Drift Exploit Details
Attackers exploited Drift’s zero-timelock Security Council migration, compromising contributors’ devices to gain multisig wallet approvals.
ETH Price Drops
Ethereum dropped 1.7% in the last 24 hours and 9.5% over the past month, with Bitcoin falling 1.1% to $81,425.
Recovery Methods
Stolen crypto could be recovered through stablecoin freezes, exchange blocks, law enforcement seizures, or negotiated returns.
Tornado Cash Blocks Recovery
ETH that goes through Tornado Cash often evades recovery methods due to lack of central issuer and obscured coin links.
Hacker’s Next Move
The hacker’s remaining ETH is likely to follow the pattern of moving through Tornado Cash, with recovery dependent on a mistake at a regulated exchange.
Market Reaction
Traders are treating the hack as a non-event if ETH stays above $2,370, but could face pressure if ETH breaks below that level.
The headline
A hacker who stole $270 million from Drift Protocol is moving stolen Ethereum to Tornado Cash, making recovery nearly impossible due to blockchain mixing.
