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Kyber Network Exploit: Hacker Uses Tornado Cash to Launder $1.65 Million in Stolen ETH


Oct, 22, 2024
< 1 min read
by Parth Dubey
for CoinEdition
Kyber Network Exploiter Transferred 600 ETH: What to Expect?
  • The Kyber Network hacker transferred 600 ETH via Tornado Cash.
  • ETH dropped 2.9% in the past 24 hours and trades at $2,644.
  • Kyber Network’s KNC token has dropped 92% from its all-time high.

The hacker who targeted Kyber Network, a prominent blockchain project and a multi-chain hub of liquidity protocols, has sent $1.65 million in Ethereum (ETH) through Tornado Cash, an Ethereum mixing protocol that’s caught the eye of regulators around the globe due to its use by scammers and hackers.

PeckShield, a blockchain analysis platform, first reported the transfer of funds on X. The exploiter’s wallet sent 600 ETH to Tornado Cash, where it was mixed with crypto from other sources, making it difficult for law enforcement to track the funds.

KyberSwap Exploit Still Haunts Project

In November of last year, attackers stole $47 million from Kyber Network’s KyberSwap, a multi-chain DEX aggregator, across multiple networks. The protocol’s total value locked (TVL) dropped 90%. After the hack, the project asked its users to immediately withdraw funds and started investigating the exploit.

Selling ETH might impact the price of the world’s second-largest digita…

The post Kyber Network Exploit: Hacker Uses Tornado Cash to Launder $1.65 Million in Stolen ETH appeared first on Coin Edition.

Read the article at CoinEdition

Read More

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DeFi TVL Drops Over 30% Since December Peak, Data Reveals

DeFi TVL Drops Over 30% Since December Peak, Data Reveals

The total value locked (TVL) in decentralized finance (DeFi) has plummeted more than ...
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MainNewsKyber Networ...

Kyber Network Exploit: Hacker Uses Tornado Cash to Launder $1.65 Million in Stolen ETH


Oct, 22, 2024
< 1 min read
by Parth Dubey
for CoinEdition
Kyber Network Exploiter Transferred 600 ETH: What to Expect?
  • The Kyber Network hacker transferred 600 ETH via Tornado Cash.
  • ETH dropped 2.9% in the past 24 hours and trades at $2,644.
  • Kyber Network’s KNC token has dropped 92% from its all-time high.

The hacker who targeted Kyber Network, a prominent blockchain project and a multi-chain hub of liquidity protocols, has sent $1.65 million in Ethereum (ETH) through Tornado Cash, an Ethereum mixing protocol that’s caught the eye of regulators around the globe due to its use by scammers and hackers.

PeckShield, a blockchain analysis platform, first reported the transfer of funds on X. The exploiter’s wallet sent 600 ETH to Tornado Cash, where it was mixed with crypto from other sources, making it difficult for law enforcement to track the funds.

KyberSwap Exploit Still Haunts Project

In November of last year, attackers stole $47 million from Kyber Network’s KyberSwap, a multi-chain DEX aggregator, across multiple networks. The protocol’s total value locked (TVL) dropped 90%. After the hack, the project asked its users to immediately withdraw funds and started investigating the exploit.

Selling ETH might impact the price of the world’s second-largest digita…

The post Kyber Network Exploit: Hacker Uses Tornado Cash to Launder $1.65 Million in Stolen ETH appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Will Ethereum Break Past $2K and Turn Bullish?

Will Ethereum Break Past $2K and Turn Bullish?

The mixed signals are keeping the traders on their toes in the crypto market, trigger...
Apr, 05, 2025
2 min read
by TheNewsCrypto
DeFi TVL Drops Over 30% Since December Peak, Data Reveals

DeFi TVL Drops Over 30% Since December Peak, Data Reveals

The total value locked (TVL) in decentralized finance (DeFi) has plummeted more than ...
Apr, 04, 2025
3 min read
by Cryptonews