Coinbase hacker spends $24M (5,514 ETH) via Tornado Cash, gradually emptying the coffers after stealing more than $300M of crypto-assets.
A cybercriminal related to the giant Coinbase theft has been quietly laundering stolen Ethereum to the tune of $24 million with Tornado Cash.
The wallet containing 5,514 ETH is gradually withdrawing its money, which might indicate a gradual yet systematic laundering plan.
Source – X
On-chain data provided by X user OnchainLens indicates that the hacker is operating a wallet address 0x9b01b0545afe5b9957efc7945253e19b2ba07d9c, and has been laundering large sums of stolen Ethereum via the privacy service Tornado Cash.
Through the use of this platform, transactions are rendered anonymous, and it becomes more challenging to trace the origin of the cryptocurrency.
Cryptocurrency Stolen: Breaking Down the Hack: Over $300M
Additional following indicates that this hacker stole over three hundred million dollars from the users of Coinbase. More recently, the thief has purchased 38,126 SOL tokens worth $8 million in two hours, according to Onchain Lens.
The address 7reyCVVxQpkBjFxauBtdzBWynEh3y6MvGPwuRwwn7Doh and 0xcC434153CD323b8537d245920a8e8e0Aa3C3c638 bought SOL tokens, which is evidence of diversification in the crypto markets.
This hacker also purchased almost 4,863 ETH at an average price of $2,569 per ETH using the DAI stablecoins at a total of 12.5 million dollars.
There is still more than 45 million in DAI in the wallet in two wallets, and there are even more purchases in the future. These balances were reported on addresses 0xc84c35f57caeeb5da8e31d1144c293ae5851ab84 and 0x52026781f3c489359e2d79eacce00c719d047a81.
Slow Draining Strategy: Over $68M in ETH Sold Recently
The hacker has sold 26,347 ETH to 68.18 million DAI in the past 12 hours shown by data provided by OnchainLens and analytics by Nansen. This involves a recent sale of 8,775.56 ETH worth 23.23 million dollars, indicating a systematic program to sell out but without being noticed.
It was sold by the wallet address of 0xB574D779c391eAc47fA09b6e50cB79cCcB57A8c8, which proves that the stolen money passed through several phases and currencies.Such advanced laundering is monitored by experts using Tornado Cash and token swaps to blur the trail and maximize profits. The pacing on the part of the hacker is an indicator of a planning process to ensure that he does not withdraw too fast to cause alarm.
