The Uranium Finance Hacker Moves $3.1 Million in BUSD to Ethereum
The address associated with the Uranium Finance hack in 2021 has made another financial move, transferring $3.1 million from BNB Chain to Ethereum (ETH).
The primary address involved in the Uranium Finance hack from April 2021 has once again shifted funds, moving $3.1 million in BUSD from BNB Chain to Ethereum and laundering $1.89 million through Tornado Cash.
Peck Shield, a leading blockchain security company, was the first to raise awareness of this latest movement. Peck Shield’s alert came when the exploiter had transferred only $10,000 worth of BUSD to the Ethereum network using Stargate, a cross-chain bridging protocol.
After receiving the alert from Peck Shield, the exploiter proceeded to move more BUSD tokens to Ethereum. They bridged 500,000 BUSD in six separate transactions and 100,000 BUSD in one transaction, totaling 3.1 million BUSD.
These recent transactions, which occurred within an hour today, have sparked speculation among cryptocurrency enthusiasts. Following the transfers, the exploiter’s address on the BNB Chain now holds over $15 million in BUSD and Wrapped BNB (WBNB).
Specifically, the address currently contains $10.29 million worth of BUSD and 22,185 WBNB valued at $4.73 million. Additionally, at the time of reporting, their address on the Ethereum network holds 824 Ether (ETH) worth $1.3 million, $12,980 worth of USDC, and $12,487 worth of USDT.
Interestingly, shortly after bridging the 3.1 million BUSD to the Ethereum network, the hacker transferred 1,200 ETH (worth $1.89 million) to Tornado Cash, a crypto mixing resource. These ETH tokens were sent in 12 transactions of 100 ETH each, between 7:32 AM and 8:09 AM (UTC) today.
Previous Movements
The latest movement of funds comes 61 days after the address laundered 1,100 ETH through Tornado Cash in August. Notably, the exploiter also moved 530 ETH to Tornado Cash in July, 670 ETH in June, and 650 ETH in May.
These transactions have followed a consistent pattern throughout the year. It is worth mentioning that the first set of transfers occurred in March when the exploiter used a different address to move 2,250 ETH (worth $3.35 million at the time) to Tornado Cash.
The initial transfers took place almost two years after Uranium Finance fell victim to the hack. In April 2021, the hacker exploited a vulnerability in Uranium Finance’s pair contracts and drained $50 million worth of crypto assets from the protocol.
Hot Take: The Persistent Actions of the Uranium Finance Hacker
The recent movement of funds by the Uranium Finance hacker highlights their persistent efforts to exploit vulnerabilities and evade detection. Despite previous warnings and alerts from security companies like Peck Shield, the hacker continues to move substantial amounts of funds between different blockchains and leverage resources like Tornado Cash for money laundering purposes.
This ongoing activity raises concerns about security within decentralized finance (DeFi) protocols and highlights the need for robust security measures to protect user funds. As the hacker’s actions demonstrate, even well-established projects like Uranium Finance are not immune to attacks.
The crypto community must remain vigilant and work together to identify and address vulnerabilities, ensuring the long-term sustainability and security of the DeFi ecosystem.
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