Fiendish Hacker Launders Stolen Funds Through Tornado Cash

Tuesday, 7 May 2024, 06:10

An infamous hacker involved in the Poloniex breach last year funneled $3.4 million through the illicit Tornado Cash mixer. The hacker's devious scheme sheds light on the challenges of tracking and preventing crypto money laundering. Regulators and authorities need to address such loopholes to maintain the integrity of the financial system.
LivaRava Finance Meta Image
Fiendish Hacker Launders Stolen Funds Through Tornado Cash

Latest Update on Poloniex Hacker

The hacker responsible for last year's Poloniex breach made headlines again by transferring 1,100 ETH ($3.4 million) to the sanctioned Tornado Cash mixer. This act has drawn attention to the murky world of crypto money laundering.

Insights into Money Laundering Techniques

  • The hacker's use of Tornado Cash underscores the challenges of tracing illicit funds in the decentralized crypto space.
  • Regulators are facing an uphill battle in combating such sophisticated techniques.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe