A Phisher Moves Stolen Crypto to Tornado Cash
A phisher has stolen $24.2 million worth of staked Ethereum (ETH) and is now actively transferring the stolen assets to the crypto mixer Tornado Cash, according to blockchain security platform PeckShield. The stolen crypto includes Lido Staked Ether (stETH) and Rocket Pool ETH (rETH), both liquid staking tokens. The phisher first sent 701 ETH, valued at approximately $1.15 million, to Tornado Cash. They then exchanged 28,000 DAI stablecoin for 17.3 ETH and transferred 1,100 ETH, worth around $1.78 million, to Tornado Cash. In a subsequent transaction, the phisher moved 2,000 ETH, valued at approximately $3.1 million, to a new address, with 600 ETH worth approximately $968,000 sent to Tornado Cash.
Phishing Attacks and the U.S. Treasury Ban on Tornado Cash
Phishing attacks involve attempts to deceive victims through fraudulent messages that appear to be from trusted sources. Ransomware attacks often use phishing emails for spreading malware. The U.S. Treasury Department blacklisted Tornado Cash in August 2022 due to its association with illicit groups like North Korean hackers Lazarus in laundering stolen funds. Last month, a U.S. court upheld the ban on Tornado Cash after denying a challenge brought by six users of the Ethereum-based crypto mixer.
Hot Take: Protect Yourself Against Phishing Attacks
Phishing attacks continue to pose a significant threat in the crypto space. To protect yourself against such attacks:
- Be cautious of unsolicited emails or messages that ask for personal or financial information.
- Verify the authenticity of the sender before responding to any requests.
- Do not click on suspicious links or download attachments from unknown sources.
- Keep your devices and software updated with the latest security patches.
- Use strong, unique passwords for your crypto accounts and enable two-factor authentication.
By following these best practices, you can reduce the risk of falling victim to phishing attacks and safeguard your crypto assets.
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