The post $4.3 Million in Stolen Crypto from Remilia DAO Hack Traced to Tornado Cash appeared first on Coinpedia Fintech News
The hack on Remilia DAO the decentralized organization behind the Milady Maker NFT collection has taken an even worse turn. Blockchain analysis firm CertiK has revealed that more than $4. 3 million in stolen cryptocurrency is transferred to the illicit mixer called Tornado Cash.
Earlier today, CertiK published a tweet saying that 1,209. 5 Ether (ETH), which at the time of writing is equivalent to approximately $4.3 million, was sent to Tornado Cash. This deposit seems to be linked with multiple addresses of the Remilia hack which took place in March.
After the hack that occurred on the 16 of March, Remilia and the owner of the Milady brand Krishna Okhandiar well known as Charlotte Fang took their time to report the situation online. It was then realized that all the stolen assets were sent to this particular wallet and converted to cash in such record time.
Stolen NFTs immediately generated discussions after the Twitter account Dumpster DAO reposted Fang’s report, containing a screenshot of the address and the report with the looted assets. Blockchain information supported the sale of the NFT Milady associated and the subsequent withdrawal of 1 million ETH from the baskets to another wallet.
However, there are some doubts about the fact of the hack, some of the users continue to doubt and state that Remilia may have arranged this hack herself.
The case of Remilia draws attention to some of the issues that are characteristic of DeFi, namely the identification of stolen cryptocurrency and its return. The fact that the Tornado Cash tool is still actively used by cybercriminals has led to US authorities banning the use of this application since August 2022.
While the investigation is still ongoing, the members of the cryptosphere still feel anxious and worried which emphasizes the necessity of increasing the security measures unprecedented in the rapidly developing area of decentralized finance.
Also Read: Crypto Hackers Have Stolen $19 Billion+ Since 2011: Reports