The hacker moves stolen funds through a bridge
Reports from Peckshield revealed that the Kyberswap hacker is laundering funds out of the $50M exploit. They bridged over 3k ETH from Arbitrum to Ethereum before transferring about 2k ETH to Tornado Cash in two different transactions of 1K ETH each.
Identity of the exploiter
After the Kyber exploit, a wallet linked to the Kyber exploiter sent $2 million to a wallet associated with Andean Medjedovic, the Indexed Finance exploiter. While not confirmed, many assume Medjedovic also exploited KyberSwap.
The hacker demanded complete control over Kyber company assets, threatening to void the deal and any contact concerning their trades if not met by Dec. 10.
Conclusion:
Using Tornado Cash allows hackers to easily launder stolen assets by obscuring the origin and destination of funds. With the increasing necessity for robust security measures, collaboration among cryptocurrency platforms is crucial as hackers exploit platforms like Tornado Cash while users await resolution on Dec 10.
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