500,000 DAI From DAO Maker Exploit Was Sent Through Tornado Cash, Security Analysts Report

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500,000 DAI From DAO Maker Exploit Was Sent Through Tornado Cash, Security Analysts Report

On September 8, the crypto safety and good contract auditing agency Certik revealed that 500,000 DAI was despatched by the Tornado Cash mixing platform after the funds had been stolen in August 2021. The digital belongings initially stemmed from the DAO Maker breach that noticed the lack of greater than $7 million in ERC20 tokens and stablecoins.

Address Directly Connected to DAO Maker Hack Sends 500,000 DAI Through Tornado Cash

Despite the U.S. authorities banning the Ethereum-based mixing utility Tornado Cash, the appliance remains to be used commonly. On Thursday, the crypto safety firm Certik tweeted at 7:30 p.m. (ET) about the motion of DAI. “We are seeing a motion of 500,000 DAI to Tornado Cash from EOA 0x0B789,” Certik said. “The handle is immediately related to the DAO Maker exploiter who stole funds from [the DAO Maker]. Stay protected on the market.”

DAO Maker is a crowdfunding decentralized finance (defi) utility and isn’t the identical mission as Makerdao, the issuer of the stablecoin DAI. The crypto-fueled fundraising protocol DAO Maker was hacked in August 2021, in keeping with an ask-me-anything (AMA) event that includes DAO Maker’s CEO Christoph Zaknun. The hackers had been in a position to siphon $7 million in ERC20 tokens and stablecoins from 5,251 consumer accounts. At the time, the blockchain agency Cipherblade detailed it was conducting an investigation into the DAO Maker exploit.

In addition to Certik, the crypto safety agency Peckshield confirmed that 500,000 DAI stemming from the August 2021 DAO Maker exploit was despatched by Tornado Cash. “Peckshield has detected the handle labeled as DAO Maker exploiter has transferred 500K DAI to Tornado Cash,” the Peckshield alert system on Twitter noted. It’s been 32 days because the U.S. Treasury Department’s watchdog the Office of Foreign Asset Control (OFAC) banned Tornado Cash.

OFAC’s transfer to ban Tornado Cash was met with criticism towards the Treasury Department’s determination. The non-profit that focuses on coverage points, Coin Center, mentioned on August 15 that OFAC’s Tornado Cash ban “exceeds statutory authority,” and mentioned the group deliberate to “interact” with the Treasury watchdog. Furthermore, Coinbase announced on September 8, that the corporate is “funding a lawsuit introduced by six individuals difficult the U.S. Treasury Department’s sanctions of the Tornado Cash good contracts.”

What do you assume about the 500,000 DAI shuffled by the Tornado Cash platform stemming from the DAO Maker mission? Let us know what you assume about this topic within the feedback part under.


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