Heco Bridge Hackers Launder More Than $145 Million in Ethereum Through Tornado Cash
Last year’s hackers targeting the Heco Bridge have successfully laundered over 40,000 ether, valued at $145.7 million, through Tornado Cash in the past week, as per the latest blockchain analysis.
The Heco Bridge facilitates the transfer of assets between the Ethereum network and the Heco Chain, the latter being developed by the HTX exchange (previously known as Huobi). Tornado Cash is a crypto mixer that enhances transaction privacy by concealing the origins and destinations of Ethereum transfers.
Blockchain security firm PeckShield reported on X that, as of March 22, 2024, the perpetrators behind the Heco Bridge breach have funneled approximately 40,391.8 ether (about $145.7 million) into Tornado Cash over the preceding eight days.
The breach of the Heco Bridge in November 2023 saw a theft of roughly $111 million on the day of the incident, with PeckShield tracking the stolen assets which included ether, USDT, USDC, and HBTC. These were swiftly moved to decentralized exchanges and exchanged for different cryptocurrencies, as earlier reported by The Block.
Igor Igamberdiev, the Head of Research at Wintermute, pointed out a possible additional compromise of HTX around the same timeframe, marked by dubious transfers amounting to $23.4 million. These transactions bore similarities to those from the Heco Bridge breach, occurring soon after. In response, HTX began transferring assets from another vulnerable wallet to a designated recovery wallet and temporarily halted both deposits and withdrawals.
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