1. PixelPlaygroundHome
  2. Web3 News

Uranium Finance Hackers Still At Large: Stolen Funds Traced via Tornado Cash

• Web3 News • 107 views

It is reported that, according to Paidun monitoring, after 647 days, Uranium Finance hackers transferred 2250 ETH (about $3.35 million) stolen funds to Tornado…

Uranium Finance Hackers Still At Large: Stolen Funds Traced via Tornado Cash

It is reported that, according to Paidun monitoring, after 647 days, Uranium Finance hackers transferred 2250 ETH (about $3.35 million) stolen funds to Tornado Cash today. The stolen funds seem to have been retained in the form of USDT for about 650 days.

Paidun: Uranium Finance hackers transferred about $3.35 million of ETH to Tornado Cash

Interpretation of the news:


It has been reported that the Uranium Finance hackers have yet to be caught and have recently transferred $3.35 million worth of stolen funds to Tornado Cash. The stolen funds have been held in the form of USDT for about 650 days before the recent transfer.

Uranium Finance is a decentralized finance protocol built on the Binance Smart Chain, which reaped a lot of attention within the cryptocurrency community due to its promising and unique features such as yield optimization, token swapping, and liquidity pooling. However, it quickly turned into a nightmare when hackers discovered a vulnerability in the protocol and drained its liquidity pools, resulting in a loss of approximately $50 million worth of assets in April 2021.

The Uranium Finance team has tried to recover the stolen funds, but it seems that a large portion of the funds remain unrecovered. It is speculated that they may have been laundered through Tornado Cash, which is a privacy-focused decentralized mixer that allows users to mix their assets to maintain anonymity.

The recent transfer of $3.35 million worth of stolen funds to Tornado Cash indicates that the Uranium Finance hackers are still at large and actively trying to hide the stolen funds. The use of Tornado Cash demonstrates their attempt to evade detection and maintain anonymity by obscuring the origin of the funds.

The fact that the stolen funds were held as USDT for over 650 days before being transferred adds to the complexity of the investigation. This could suggest that the hackers were waiting for an opportune moment to transfer the funds without attracting attention or that they were trying to distance themselves from the initial incident.

In conclusion, this recent development highlights the challenges of tracking and recovering stolen funds in the world of decentralized finance. As the use of privacy-focused protocols such as Tornado Cash becomes increasingly prevalent, it is important to implement robust measures to prevent such incidents from happening in the first place, and to improve the chances of recovering lost funds.

Overall, the Uranium Finance hack serves as a cautionary tale for both investors and cryptocurrency protocols. Hence, it is important to remain vigilant and always be mindful of the potential risks and vulnerabilities in the decentralized ecosystem.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/5533/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/07/2023 01:12
Next 03/07/2023 01:28

Recommended articles