Hackers Move Funds to Tornado Cash, Evading Detection
It is reported that according to CertiK monitoring, the account address (0x35596b) marked by Etherscan as “Dynamic Explorer 2” has transferred the funds to Tornado Cash. This address has been used by hackers for Dynamic attacks. Up to now, 74.4 BNBs (about US $21400) have been transferred from this address.
0x35596b Transferred funds to Tornado Cash
Analysis based on this information:
A recent report states that hackers have transferred funds from an address previously linked to Dynamic attacks to Tornado Cash, a privacy-enhanced platform for cryptocurrency transactions. The account address, marked by Etherscan as “Dynamic Explorer 2,” was identified by CertiK monitoring as the source of the transfer. The transfer of 74.4 BNBs (worth approximately US $21400) from the address is viewed as an attempt by the hackers to remain anonymous and evade detection.
Etherscan is a popular blockchain explorer that provides real-time data on cryptocurrency transactions, while CertiK offers advanced blockchain security solutions. These companies play a significant role in detecting and identifying malicious activities on the blockchain, particularly when dealing with cases of hacking and fraud. By marking the address linked to Dynamic attacks, Etherscan had helped to limit the impact of such attacks and reduce the loss incurred by traders and investors. However, this latest transfer to Tornado Cash suggests that the hackers may have found a new means of evading detection.
Tornado Cash is a decentralized platform that aims to provide untraceable transactions on Ethereum. By submitting their tokens to the platform, users can mix them with other tokens, making it impossible for anyone to trace the original source of the tokens. This feature has made Tornado Cash attractive to not only privacy-conscious traders but also to hackers looking to launder their stolen funds. The platform has been linked to several hacking incidents in recent years, including the infamous Kucoin hack, where hackers were able to launder over $45 million through Tornado Cash.
The transfer of funds from Dynamic Explorer 2 to Tornado Cash raises serious concerns about the security of the blockchain ecosystem. While blockchain technology offers several advantages in terms of transparency and security, it is not immune to hacking and other malicious activities. The fact that hackers can move funds from a known hacking address to a privacy-enhanced platform like Tornado Cash highlights the need for stronger security measures and regulatory oversight in the blockchain space.
In conclusion, the transfer of funds from Dynamic Explorer 2 to Tornado Cash is an alarming development that underscores the ongoing threat of hacking and fraud in the cryptocurrency space. While companies like Etherscan and CertiK are doing their best to identify and mitigate malicious activities, it is clear that more needs to be done to ensure the overall security of the blockchain ecosystem.
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