Unizen

2024

Million

Tornado Cash

Tornado

The post <a href="https://coinpedia.org/news/unizen-hack-update-over-2-million-laundered-by-hacker-through-tornado-cash/" rel="noopener noreferrer nofollow">Unizen Hack Update: Over $2 Million Laundered by Hacker Through Tornado Cash</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The hacker from the March 2024 Unizen exploit has over $2 million laundered through the Tornado Cash mixer. The cyber security firm Peckshield Alerts<a href="https://x.com/PeckShieldAlert/status/1821065531073724876" target="_blank" rel="noopener noreferrer nofollow"> reported</a> that the attacker has laundered 865.4 <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>, equivalent to about $2.16 million obtained from the exploit wallet.&nbsp;
This activity occurred 151 days after the first attack which was a loss of $2.1 million owing to an ‘approve issue’ that occurred on Unizen’s platform. Also, all efforts to get a hold of the money back from the hacker have been in vain as the latter hasn’t responded to the team.
The laundering process started with the movement of 2,179,859 DAI from the exploit wallet to another punk wallet which is unknown, addressed as “0X866. . . 84d7. “ The laundered DAI was then exchanged for ETH in uniswap as it continued its journey through Tornado Cash in 26 transactions. This was able to clear both of the exploiter’s pockets with the gainers remaining with their pockets filled.
<h2 class="wp-block-heading" id="h-the-march-2024-attack">The March 2024 attack</h2>
The <a href="https://coinpedia.org/news/unizen-dex-faces-major-security-breach-over-2-million-loss-reported/" target="_blank" rel="noopener noreferrer nofollow">attack</a> happened on 9, March 2024, by using the “approve issue” vulnerability in the Unizen’s platform, and the firm lost $2. $1 million of <a href="https://markets.coinpedia.org/tether/" target="_blank" rel="noopener noreferrer nofollow">USDT</a>, which was then swapped to DAI. PeckShield had discovered the vulnerability and informed Unizen but by the time the latter received the alert, the damage was done.
Unizen has tried reaching out to the hacker requesting him to return all the stolen assets and promising to increase the bounty amount to 20% for the assets to be returned, but the hacker never responded. This team tried to make contact with the hacker through on-chain messages in a bid to make a plea that the hacker return the stolen funds in return for a reward.
The hack that happened in the Unizen platform is similar to the <a href="https://coinpedia.org/news/crypto-news-today-nomad-bridge-hack-leads-to-major-ethereum-price-crash/" target="_blank" rel="noopener noreferrer nofollow">Nomad Bridge hack</a> to show that no platforms are immune to cyberattacks. The Nomad Bridge was attacked for about $200 million in August 2022 following a similar lack of vigilance, underlining the need to constantly update and improve security measures. The hacker was smart enough to <a href="https://coinpedia.org/news/crypto-news-today-nomad-bridge-hack-leads-to-major-ethereum-price-crash" target="_blank" rel="noopener noreferrer nofollow">buy</a> the dip and bought thousands of ETH swapping the stolen DAI.
Also Check Out: <a href="https://coinpedia.org/news/wazirx-hack-update-coindcx-unveils-rs-50-crore-investor-protection-fund/" target="_blank" rel="noopener noreferrer nofollow">WazirX Hack Update: CoinDCX Unveils Rs 50 Crore Investor Protection Fund!</a>

Unizen Hack Update: Over $2 Million Laundered by Hacker Through Tornado Cash

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