Categories: Finance

Peckshield reported money laundering from TempleDAO via Tornado Cash

Peckshield reported money laundering from TempleDAO via Tornado Cash

Security experts report that a hacker who hacked the TempleDAO DeFi platform transferred stolen assets through the Tornado Cash cryptocurrency mixer.

Peckshield analysts say that the first deposit from a hacker sent to the mixer was only 0.1 Ether. The transfer of the stolen ethers took place five days after a cyber attack on TempleDAO, during which the platform wallet was hacked, where 1,830 ethers worth $2.3 million were placed. The hacker managed to withdraw 1,418,303 TEMPLE tokens and 1,362,438 FRAX stablecoins from the wallet. Later, TEMPLE tokens were converted into FRAX stablecoins.

The hacker’s address was linked to an account on the Binance exchange, which helped transfer some of the funds to the address of the wallet used. An hour and a half before the exploit occurred, about 1.1 ETH was transferred to the hacker’s wallet.

The TempleDAO team claims that their CORE vault, where more than $100 million worth of stablecoins were placed, was not affected. The developers stated that the exploit was eliminated and “the hacker will not be able to attack the platform in the future”:

“Compensation will be provided for all affected users.”

Tornado Cash is a cryptocurrency mixing service that allows users to hide transaction details. In August, the mixer and its associated 44 Ethereum and USDC wallets were sanctioned by the US Department of the Treasury. The regulator blocked the money, citing the mixer’s connection to the high-profile hacks of the Ronin and Harmony platforms. In particular, the Ministry of Finance said that these hacks benefited the North Korean Lazarus Group, and accused the intermediary of laundering more than $455 million for it.

Source: Bits