• Hackers use Tornado Cash to obscure $36.9M in stolen Ethereum, raising laundering concerns.
• OKX bans Tornado Cash to comply with regulations amid increasing crypto laundering fears.
• Despite laundering challenges, Ethereum’s value surges 10.28%, showcasing market resilience.

In a recent development, blockchain security firm PeckShieldAlert reported that a hacker-labeled address linked to Crypto Exchange Rain transferred 721 Ethereum (ETH), valued at approximately $1.7 million, to the crypto mixing service Tornado Cash. This incident has raised concerns about the use of mixers to potentially launder stolen funds.

Following the Rain exchange incident, another significant movement was reported involving the Nomad Bridge exploit. An exploiter transferred a substantial 14,500 ETH, worth about $35.2 million, to Tornado Cash. These transactions highlight the prevalent use of mixing services to obscure the origins of large sums of crypto assets, complicating efforts to t…

The post Tornado Cash: Hackers Launder $37 Million in Stolen Ethereum appeared first on Coin Edition.

• Hackers use Tornado Cash to obscure $36.9M in stolen Ethereum, raising laundering concerns.
• OKX bans Tornado Cash to comply with regulations amid increasing crypto laundering fears.
• Despite laundering challenges, Ethereum’s value surges 10.28%, showcasing market resilience.

In a recent development, blockchain security firm PeckShieldAlert reported that a hacker-labeled address linked to Crypto Exchange Rain transferred 721 Ethereum (ETH), valued at approximately $1.7 million, to the crypto mixing service Tornado Cash. This incident has raised concerns about the use of mixers to potentially launder stolen funds.

Following the Rain exchange incident, another significant movement was reported involving the Nomad Bridge exploit. An exploiter transferred a substantial 14,500 ETH, worth about $35.2 million, to Tornado Cash. These transactions highlight the prevalent use of mixing services to obscure the origins of large sums of crypto assets, complicating efforts to t…

The post Tornado Cash: Hackers Launder $37 Million in Stolen Ethereum appeared first on Coin Edition.