Crypto Hacker Steals 1,100 ETH: Unraveling the Details of the Ethereum (ETH) Heist

• Poloniex crypto exchange experiences panic-inducing transfer operations by hackers.
• Security firm PeckShield’s onchain data reveals the hacker responsible for last year’s Poloniex attack transferred approximately $3.4 million worth of 1,100 Ethereum (ETH) to Tornado Cash, a US-approved cryptocurrency mixer.
• The attack is widely believed to be the work of the infamous state-sponsored hacking organization, North Korea’s Lazarus Group, known for high-profile attacks including a $600 million hack on the Ronin side chain.

Poloniex crypto exchange faces panic as hackers transfer funds to Tornado Cash, stirring up concerns in the crypto market.

Poloniex Faces Frightening Transfer from Attacker!

During an attack on one of Poloniex’s hot wallets last November, $100 million was drained. Services like Tornado Cash are frequently used by cybercriminals to obscure the trail of stolen cryptocurrency. This attack is widely believed to be the work of the notorious state-sponsored hacking organization, North Korea’s Lazarus Group, which has carried out high-profile attacks, including a $600 million hack on the Ronin side chain. In a previous onchain message, Poloniex offered the attacker a 5% reward (approximately $5 million) to return the remaining 95% of the stolen funds.

Connection to Kronos Research Hack?

PeckShield noted in a separate transaction involving Tornado Cash, an attacker linked to a $26 million hack at Kronos Research transferred 200 ETH today. Notably, Kronos Research was also a victim of an attack last November, but it remains unclear whether the two incidents are directly connected. The move by the Poloniex crypto attacker has caused concern not just among exchange users but in the crypto market in general.

Conclusion

This incident serves as a reminder of the risks involved in cryptocurrency investments and the importance of conducting thorough research before making decisions. It also underscores the need for robust security measures within crypto exchanges to protect users’ assets.