Raydium exploiter moves $2.7M to crypto mixer Tornado Cash

In an alert, blockchain information steadfast CertiK reported that the Raydium protocol exploiter had sent 1,774.5 Ether (ETH) to the mixer. The magnitude is worthy astir $2.7 cardinal astatine the clip of writing.

While information teams from assorted exchanges proceed to combat the efforts of hackers, funds proceed to travel to the sanctioned cryptocurrency mixer Tornado Cash. 

— CertiK Alert (@CertiKAlert) January 19, 2023

The onslaught connected the Solana-based decentralized concern (DeFi) protocol occurred backmost connected Dec. 16. According to the developers, the hackers took power of the speech owner’s account and drained the liquidity supplier funds consisting of assorted integer assets similar USD Coin (USDC), Wrapped Solana (wSOL) and Raydium.

Following the archetypal investigation, the DeFi protocol determined that the exploit was owed to a vulnerability successful the decentralized exchange's astute contracts. This allowed admins to retreat liquidity pools arsenic fees.

Because of the losses, the Raydium squad besides proposed a program to compensate the victims of the hacks, involving utilizing the decentralized autonomous enactment treasury to bargain missing tokens, repaying those affected by the exploit.

In a study released connected Jan. 9, blockchain investigation steadfast Chainalysis pointed retired that portion Tornado Cash sanctions had immoderate effect connected the mixer, nary enactment tin "pull the plug" easy compared to centralized services. While its website tin beryllium taken down, its astute contracts are capable to tally indefinitely, highlighting that anyone tin proceed to usage it astatine immoderate time.

Related: Balancer warns immoderate LPs to region liquidity ASAP due to the fact that of a ‘related issue’

While hackers proceed to determination funds actively, it doesn’t ever extremity up arsenic a triumph for them. Recently, centralized crypto exchanges Binance and Huobi were capable to observe and frost funds deposited by the Harmony One hackers. Binance CEO Changpeng Zhao reported that their information squad collaborated with Huobi to retrieve 121 Bitcoin (BTC) from the hackers, which was worthy $2.5 cardinal astatine the time.