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Scam Alert

TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash

October 24, 2022 - Around 2 mins mins to read

The hacker who used TempleDAO‘s decentralized-finance (DeFi) protocol exploit last week has transferred all of the ill-gotten gains to Tornado Cash over the course of the previous 24 hours.

TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash
TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash

One of the many platforms compromised in a single day last week, in what is now expected to be the worst month ever for cryptocurrency hacks, was Temple DAO, which enables its users to earn dividends on their crypto assets.

TempleDAO Exploiter by the blockchain scanning software Etherscan

TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash
TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash

The cash were transferred over the weekend to wallet address 0x2b63d4a3b2db8acbb2671ea7b16993077f1db5a0, according to addresses linked to the exploiter identified as the “TempleDAO Exploiter” by the blockchain scanning software Etherscan.

Those monies were transferred to Tornado Cash on Sunday night at Asian time in lots of 100 ethers each. Data indicates that the attacker was ultimately successful in moving 1,921 ether across 21 separate transactions. That ether is worth more than $2.5 million at the current pricing.

By severing the on-chain connection between a source address and a destination address, Tornado Cash, which has received official approval in the United States, improves transaction anonymity. This enables hackers and exploiters to conceal their addresses while withdrawing money obtained illegally.

The attack’s primary cause, according to blockchain security firm BlockSec, was “insufficient access to control to the migrateStake function” on TempleDAO-related smart contracts, the company claimed last week.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News

blockchain scanning

decentralized-finance

Etherscan

TempleDAO

TempleDAO Exploiter

Tornado cash

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Scam Alert

TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash

The hacker who used TempleDAO‘s decentralized-finance (DeFi) protocol exploit last week has transferred all of the ill-gotten gains to Tornado Cash over the course of the previous 24 hours.

TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash
TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash

One of the many platforms compromised in a single day last week, in what is now expected to be the worst month ever for cryptocurrency hacks, was Temple DAO, which enables its users to earn dividends on their crypto assets.

TempleDAO Exploiter by the blockchain scanning software Etherscan

TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash
TempleDAO Exploiter Transfers Over $2.5 Million In Ether To Tornado Cash

The cash were transferred over the weekend to wallet address 0x2b63d4a3b2db8acbb2671ea7b16993077f1db5a0, according to addresses linked to the exploiter identified as the “TempleDAO Exploiter” by the blockchain scanning software Etherscan.

Those monies were transferred to Tornado Cash on Sunday night at Asian time in lots of 100 ethers each. Data indicates that the attacker was ultimately successful in moving 1,921 ether across 21 separate transactions. That ether is worth more than $2.5 million at the current pricing.

By severing the on-chain connection between a source address and a destination address, Tornado Cash, which has received official approval in the United States, improves transaction anonymity. This enables hackers and exploiters to conceal their addresses while withdrawing money obtained illegally.

The attack’s primary cause, according to blockchain security firm BlockSec, was “insufficient access to control to the migrateStake function” on TempleDAO-related smart contracts, the company claimed last week.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News