Heco Bridge Hackers Launder More Than $145 Million in Ethereum Through Tornado Cash

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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.

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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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Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

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