Tornado Cash

Tornado

Stader

Billion

<ul class="wp-block-list">
 <li><strong>Polter Finance lost $12M due to a flash loan exploit.</strong></li>
 <li><strong>Platform paused operations, involving law enforcement and tracking the hacker.</strong></li>
</ul>
<p>PeckShield reported that an address linked to the Polter Finance exploiter transferred 120 ETH to <a href="https://x.com/TornadoCash" rel="noopener noreferrer nofollow">Tornado Cash</a>, a privacy tool commonly used to obscure blockchain transactions. Polter Finance, a decentralized non-custodial lending and borrowing platform, recently suffered a devastating hack, resulting in approximately $8.7 million in <a href="https://thenewscrypto.com/global-crypto-funds-hit-record-33-5b-in-2024-amid-recent-bitcoin-surge/" rel="noopener noreferrer nofollow">crypto</a> losses. The incident has prompted the platform to halt operations and involve law enforcement.&nbsp;</p>
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 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PeckShieldAlert</a> <a href="https://twitter.com/polterfinance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@polterfinance</a> exploiter – labeled address has transferred 120 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> to <a href="https://twitter.com/hashtag/TornadoCash?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TornadoCash</a>.<a href="https://twitter.com/polterfinance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@polterfinance</a> suffered a hack, resulting in losses of ~$8.7 million worth of cryptos. <a href="https://t.co/xFoQpEXJlj" rel="noopener noreferrer nofollow">pic.twitter.com/xFoQpEXJlj</a></p>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1858718428082958535?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 19, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>The attack drained Polter Finance’s total value locked (TVL) of $12 million on November 17. Shortly after identifying the exploit, the platform paused its operations and notified investors via X (formerly Twitter). According to Polter Finance, the stolen funds were traced to wallets on <a href="https://x.com/binance" rel="noopener noreferrer nofollow">Binance</a>.&nbsp;&nbsp;</p>
<p>Polter Finance has yet to confirm the specifics of the attack but reached out to the hacker via an on-chain message, offering a chance for negotiation and impunity. The message remains unanswered as of now.</p>
<p>Meanwhile, the platform’s pseudonymous founder, Whichghost, filed a police report in Singapore. The report details over $12 million in losses, including $223,219 in personal losses. Whichghost stated, “I did not provide anyone my login details (private keys)… I believe the exploit occurred due to vulnerabilities in the smart contract deployed for BOO token lending.”&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="h-criticisms-and-steps-ahead">Criticisms and Steps Ahead</h3>
<p>Criticism has surfaced within the community, with some speculating the possibility of insider involvement. Observers noted that filing a police report might be a distraction tactic, although no evidence currently supports these claims.&nbsp;&nbsp;</p>
<p>In response, Polter Finance announced a collaboration with the Security Alliance Information Sharing and Analysis Center (SEAL-ISAC) to track the attacker. Despite these efforts, skepticism lingers, with the hack exposing significant vulnerabilities in DeFi protocols reliant on poorly vetted smart contracts.&nbsp;&nbsp;</p>
<p>Polter Finance’s market size included $7.87 million in Fantom, $1.03 million in wrapped USD Coin (<a href="https://thenewscrypto.com/sui-network-boosts-defi-with-native-usdc-integration-via-navi-protocol/" rel="noopener noreferrer nofollow">USDC</a>), and $2.1 million in Stader sFTMX, among others.</p>
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Polter Finance Exploiter Moves 120 ETH to Tornado Cash

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