Maker

Million

Tornado Cash

Tornado

<p>The post <a href="https://coinpedia.org/news/4-3-million-in-stolen-crypto-from-remilia-dao-hack-traced-to-tornado-cash/">Remilia DAO Hack: $4.3 Million in Stolen ETH Traced to Tornado Cash</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The decentralized organization <a href="https://coinpedia.org/news/milady-founder-reports-hacker-attack-over-3-million-losses-in-eth-and-nfts/">Remilia DAO</a>, known for its Milady Maker NFT collection, has faced a severe setback with its recent hack. According to blockchain analysis firm CertiK, over $4.3 million in stolen cryptocurrency has been traced to the illicit mixer, Tornado Cash.</p> 
<p>CertiK revealed through a tweet today that 1,209.5 Ether (ETH), valued at approximately $4.3 million, was transferred to Tornado Cash. This deposit is suspected to originate from addresses involved in the March hack of Remilia DAO.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CertiKInsight?src=hash&amp;ref_src=twsrc%5Etfw">#CertiKInsight</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br>We have seen a deposit of a total of 1209.5 ETH (~$4.3M) into <a href="https://t.co/0lwPdz0OWi">https://t.co/0lwPdz0OWi</a> that was traced to multiple compromised addresses in the Remilia incident on Mar 16th. <br><br>To learn more about the incident and other major private key compromises in March,… <a href="https://t.co/ycPgPbPwGf">pic.twitter.com/ycPgPbPwGf</a></p>— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1802549585384296858?ref_src=twsrc%5Etfw">June 17, 2024</a>
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<h2 class="wp-block-heading" id="h-suspicions-arise">Suspicions Arise </h2> 
<p>Following the hack on March 16th, Remilia and Milady brand owner Krishna Okhandiar, also known as Charlotte Fang, took considerable time before publicly addressing the incident. It was eventually discovered that the stolen assets had swiftly been laundered through this specific wallet.</p> 
<p>The theft of NFTs further fueled discussions after Dumpster DAO reposted Fang’s report, including a screenshot of the compromised address and details of the looted assets. Blockchain data confirmed the sale of the associated Milady NFTs, with subsequent withdrawals totaling 1 million <a href="https://markets.coinpedia.org/ethereum/">ETH </a>to another wallet.</p> 
<p>However, skepticism persists among some users, who speculate that Remilia might have orchestrated the hack themselves.</p> 
<h2 class="wp-block-heading" id="h-defi-challenges-in-focus">DeFi Challenges in Focus </h2> 
<p>Remilia’s case underscores ongoing issues in decentralized finance (DeFi), particularly the difficulty in identifying and recovering stolen cryptocurrency. The continued use of tools like Tornado Cash by cybercriminals prompted US authorities to prohibit its use starting August 2022.</p> 
<p>As investigations continue, anxiety within the cryptocurrency community remains palpable, underscoring the urgent need for heightened security measures in DeFi.</p> 
<p>Also Read:<a href="https://coinpedia.org/news/crypto-hacks-have-stolen-19-billion-since-2011-reports-crystal-intelligence/"> Crypto Hackers Have Stolen $19 Billion+ Since 2011: Reports</a></p>

Remilia DAO Hack: $4.3 Million in Stolen ETH Traced to Tornado Cash

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