Raydium Abuser Moves $2.7M To Tornado Cash

The hackers sent around 1800 Ethereum to the cryptocurrency mixer Tornado Cash, which was sanctioned weeks after the DeFi protocol Raydium exploit.

Funds continue to flow into approved cryptocurrency mixer Tornado Cash, as security teams from various exchanges continue to grapple with the hackers’ efforts.

Hackers Transfer $2.7 Million Value of Ethereum to Tornado Cash

The attack on the Solana-based decentralized finance (DeFi) protocol, Raydium, took place on December 16, 2022. According to the developers, the hackers took control of the exchange owner’s account and drained the liquidity provider funds, which consisted of various digital assets such as USD Coin, Wrapped Solana (wSOL), and Raydium (RAY).

After initial investigation, the DeFi protocol determined that the exploit was caused by a vulnerability in the decentralized exchange’s smart contracts. This allowed managers to withdraw liquidity pools as fees.

The Raydium team devised a plan to compensate hack victims using the DAO treasury to purchase lost tokens and reimburse those affected by the exploit.