Tornado Cash has once again found itself at the center of pilfered funds from a DeFi protocol.
An Ethereum wallet associated with the exploiter of the DAO Maker breach from 2021 sent $600,000 worth of DAI stablecoin through the controversial coin mixer.
- According to the blockchain security firm PeckShield, the wallet had been inactive for over 200 days.
- The transaction was detected almost seven months after another wallet belonging to the exploiter transferred $500,000 worth of DAI using Tornado Cash.
- For those unfamiliar with DAO Maker, it is a fundraising platform for crypto projects that was exploited in August 2021, resulting in the loss of over $7 million.
- The attacker was able to access the platform’s balance by exploiting a bug in DAO Maker’s contract that impacted over 5,000 accounts holding USDC.
- Hacks have continued to plague the decentralized finance space, with malicious actors targeting these protocols as the crypto market experienced another bull run in 2021.
- DeFi protocols were the primary targets of hacks, accounting for over 82% of all digital assets stolen by hackers in the following year.
- In 2022, DeFi protocols reported a loss of $3.1 billion, up from 73.3% in 2021.
- This latest incident occurred in the wake of an exploit on the popular centralized crypto exchange Bitrue, which reported the loss of $23 million worth of digital assets.