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HECO’s LendHub Attacker Transfers Stolen ETHs to Tornado Cash

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According to reports, PeckShield monitoring showed that the HECO ecological cross-chain lending platform LendHub attacker transferred 2415 ETHs (about $3.85 mi…

HECOs LendHub Attacker Transfers Stolen ETHs to Tornado Cash

According to reports, PeckShield monitoring showed that the HECO ecological cross-chain lending platform LendHub attacker transferred 2415 ETHs (about $3.85 million) to Tornado Casho.

LendHub attacker transferred 2415 ETHs into Tornado Cash

Interpretation of the news:


Cryptocurrency frauds and attacks have been on the rise, and HECO’s LendHub has fallen prey to one such attack. Monitoring reports by PeckShield have revealed that an attacker has transferred 2415 ETHs (about $3.85 million) from HECO’s cross-chain lending platform LendHub to Tornado Cash. This is alarming for LendHub users, who may have lost their funds to the attacker.

HECO, short for Huobi ECO Chain, is a decentralized blockchain platform that is becoming one of the popular alternatives to Ethereum. It has various blockchain-based products, including DEXs, lending platforms, and other financial instruments. LendHub is one such platform that allows users to borrow and lend various cryptocurrencies across different blockchains, including ETH, BTC, and USDT.

According to the reports, the attacker successfully exploited a vulnerability in LendHub’s smart contract and transferred the funds to a Tornado Cash mixer. Tornado Cash is an Ethereum-based privacy-focused mixer that allows users to make anonymous transactions. However, this anonymity also makes it an ideal tool for money laundering and illegal activities.

The attack on LendHub is not the first instance of a cryptocurrency platform experiencing a security breach. HECO itself suffered a similar attack in April when an attacker exploited a vulnerability in the protocol’s liquidity pool contract and stole $1.8 million worth of assets. Such attacks have highlighted the need for robust security protocols in these platforms.

The transfer of stolen funds to Tornado Cash raises concerns about the platform’s accountability and responsibility. Since Tornado Cash transactions are anonymous, it may be difficult to track the stolen funds and apprehend the attacker. Moreover, this attack may further dampen the reputation of cryptocurrencies in the eyes of the general public.

In conclusion, the attack on LendHub highlights the vulnerability of blockchain-based platforms and the need for strong security protocols. Furthermore, the transfer of stolen funds to Tornado Cash underscores the importance of responsible use of cryptocurrency platforms and issues regarding anonymity in the cryptocurrency ecosystem.

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