{"id":19861,"date":"2024-05-07T17:15:14","date_gmt":"2024-05-07T17:15:14","guid":{"rendered":"https:\/\/coinengineer.io\/?p=19861"},"modified":"2024-05-07T16:19:23","modified_gmt":"2024-05-07T16:19:23","slug":"poloniex-hacker-trying-to-launder-funds","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/poloniex-hacker-trying-to-launder-funds\/","title":{"rendered":"Poloniex Hacker Trying to Launder Funds"},"content":{"rendered":"

The hacker behind last year’s Poloniex<\/a> attack appears to be attempting to launder the stolen funds by transferring 1,100 ETH, worth approximately $3.4 million, to US-sanctioned cryptocurrency mixer Tornado Cash. This movement was detected by security firm PeckShield through on-chain data analysis.<\/p>\n

Poloniex suffered a significant loss of $100 million in November last year due to an attack on one of its hot wallets. Cybercriminals often use mixing services like Tornado Cash to disguise the origin of stolen cryptocurrency, making it harder to track it down.<\/p>\n

The attack on Poloniex is believed to be the work of the North Korean Lazarus Group, a notorious state-sponsored hacking organization known for carrying out high-profile attacks. This group was previously involved in a $600 million hack on the Ronin sidechain.<\/p>\n

In an effort to recover the stolen funds, Poloniex offered the attacker a 5% reward (approximately $5 million) to return the remaining 95% of the funds.<\/p>\n

Founded in 2014, Poloniex is a centralized exchange and was acquired by Tron founder Justin Sun in 2019.<\/p>\n

In a separate incident involving Tornado Cash, an attacker who launched a $26 million attack on Kronos Research transferred 200 ETH to the mixer the same day. Kronos Research was also a victim of the attack in November, although it remains unclear whether there is a direct link between the two incidents.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The hacker behind last year’s Poloniex attack appears to be attempting to launder the stolen funds by transferring 1,100 ETH, worth approximately $3.4 million, to US-sanctioned cryptocurrency mixer Tornado Cash. This movement was detected by security firm PeckShield through on-chain data analysis. Poloniex suffered a significant loss of $100 million in November last year due<\/p>\n","protected":false},"author":6,"featured_media":19864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[2668,5926],"class_list":["post-19861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-poloniex","tag-poloniex-funds"],"yoast_head":"\nPoloniex Hacker Trying to Launder Funds - Coin Engineer<\/title>\n<meta name=\"description\" content=\"The hacker behind last year's Poloniex attack appears to be attempting to launder the stolen funds by transferring 1,100 ETH, worth approximately $3.4 million, to US-sanctioned cryptocurrency mixer Tornado Cash\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/poloniex-hacker-trying-to-launder-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Poloniex Hacker Trying to Launder Funds - 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