Swapos Theft Incident: EOA Address Transfers 110 ETHs to Tornado Cash

04/26/2023 01:57 • Metaverse & Beyond • 64 views

According to reports, according to CertiK monitoring, the EOA address 0x73d8c associated with the April 19 Swapos theft incident transferred 110 ETHs (approximately $205600) to Tornado Cash.

Swapos theft incident associated address transferred 110 ETHs to Tornado Cash

The Swapos theft incident that took place on April 19, 2021, has been a topic of discussion in the cryptocurrency world. According to reports, the EOA address 0x73d8c associated with the Swapos theft incident has transferred 110 ETHs (approximately $205600) to Tornado Cash. Let us delve deeper into the details of the incident and its possible implications.

Background

Swapos is a decentralized exchange that enables users to swap ERC-20 tokens on the Ethereum blockchain. On April 19, 2021, Swapos suffered a security breach where a hacker was able to steal 24 different ERC-20 tokens and ETHs worth around $8 million. The hacker was able to exploit a vulnerability in Swapos’ code and transfer the stolen funds to their own wallets.

The EOA Address Transfer

After the Swapos theft incident, CertiK, a blockchain security firm, identified the EOA address 0x73d8c associated with the hack. Recently, CertiK has reported that the EOA address has transferred 110 ETHs to Tornado Cash, a privacy-focused decentralized exchange for ETH and other ERC-20 tokens.

Tornado Cash and Privacy

Tornado Cash is known for its privacy features that enable users to maintain anonymous transactions on the Ethereum network. The platform operates by allowing users to deposit their ETH or other ERC-20 tokens into a smart contract and then withdraw them from a different wallet to break the link between the deposit and withdrawal transactions. This feature has made Tornado Cash a popular platform among users trying to maintain their privacy on the blockchain.

Possible Implications

The transfer of the stolen funds to Tornado Cash raises concerns about the platform’s role in money laundering and other illegal activities. Despite the privacy benefits of the platform, the possibilities of its misuse remain a topic of discussion in the cryptocurrency world. The involvement of platforms like Tornado Cash in incidents like the Swapos theft highlights the need for proper regulation and enforcement of laws in the cryptocurrency world.

Conclusion

The Swapos theft incident and the transfer of funds to Tornado Cash have once again highlighted the need for increased security measures and regulation in the cryptocurrency world. While the privacy features of platforms like Tornado Cash have their benefits, we must ensure that they do not pave the way for illegitimate activities. Staying vigilant and adopting appropriate measures is crucial to maintaining a secure and trustworthy cryptocurrency ecosystem.

FAQs

1. What is Swapos?
Swapos is a decentralized exchange that allows users to swap ERC-20 tokens on the Ethereum blockchain.
2. What happened in the Swapos theft incident?
On April 19, 2021, a hacker was able to exploit a vulnerability in the Swapos code and steal 24 different ERC-20 tokens and ETHs worth around $8 million.
3. What is Tornado Cash?
Tornado Cash is a privacy-focused decentralized exchange for ETH and other ERC-20 tokens.

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