AnubisDAO Attacker Steals $3.76M via Tornado Cash

03/06/2023 03:55 • AI & Tech Insights • 72 views

It is reported that according to Paidun early warning monitoring, the address of AnubisDAO attacker (marked as AnubisDAO explorer3) transferred 2500 WETHs to the address beginning with “0x0D19”, and cleaned 2400 ETHs (about $3.76 million) through Tornado Cash.

AnubisDAO attackers transferred 2500 WETHs, of which 2400 were transferred to Tornado Cash

Interpretation of the news:

The cryptocurrency market is not immune to cyberattacks, and this has been recently demonstrated by the AnubisDAO attack. According to the Paidun early warning monitoring system, the attackers struck again by transferring 2500 Wrapped Ether (WETH) to an unknown address starting with “0x0D19.” The attackers then proceeded to clean out 2400 ETHs, which amounted to $3.76 million by using the Tornado Cash platform.

AnubisDAO is a decentralized autonomous organization that aims to provide opportunities for less wealthy investors to invest in cryptocurrency. Based on the reports, it appears that the hacker gained access to the organization’s funds by exploiting a vulnerability in its smart contract. The hacker had previously initiated a Flash Loan attack, which resulted in the theft of $8 million in Ethereum. The organization had tried to recover the previous funds by implementing a recovery contract, but this latest attack has left them even more vulnerable.

The use of Tornado Cash by the hackers highlights the importance of anonymity in the world of cryptocurrency. Tornado Cash is a privacy-focused decentralized mixer that helps users to conceal their transaction history. The platform operates by creating a pool of user funds, which are then shuffled around before being distributed to the intended recipient. The use of Tornado Cash makes it almost impossible for anyone to trace the flow of funds from one address to another. The platform has been a favorite for hackers as it allows them to conceal their tracks.

The AnubisDAO attack underlines the need for tighter security measures in the cryptocurrency market. Although cryptocurrency is decentralized and provides users with greater freedom, it also makes them more vulnerable to cyberattacks. Furthermore, the lack of regulation in the industry has also made it easier for hackers to exploit vulnerabilities in systems. Governments need to implement regulations that will protect investors’ funds and hold exchanges accountable for their security lapses.

In conclusion, the latest AnubisDAO attack is a stark reminder that the world of cryptocurrency is not immune to cyberattacks. The use of Tornado Cash by the hacker highlights the importance of anonymity in cryptocurrency transactions. However, it also exposes the limitations of current security measures in the market. The cryptocurrency market needs tighter regulations that will ensure greater transparency and accountability. Until then, attacks like this will continue to occur with devastating consequences for investors.

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AnubisDAO Attacker Steals $3.76M via Tornado Cash

AnubisDAO attackers transferred 2500 WETHs, of which 2400 were transferred to Tornado Cash

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