Hacker Laundering Stolen Funds Through Crypto-Mixing Service

The hacker responsible for the $25 million exploit of Kronos Research in November 2023 has been moving funds to launder the stolen money. The hacker transferred 1,314 Ether worth $4 million to a new address before sending it all to another address. They then made multiple transfers of 100 ETH to Tornado Cash, a crypto-mixing tool that obscures the path of transactions and makes it difficult to trace the source of funds. Tornado Cash has been previously sanctioned by the US government for its use in transferring illicit funds. The transfer to Tornado Cash suggests that the hacker is attempting to launder the stolen funds. This method of using crypto-mixing services is preferred by hackers as centralized exchanges can block identified addresses. The exploit of Kronos Research involved gaining access to the firm's API keys, resulting in the theft of approximately 12,800 ETH. It is unclear if the Poloniex hack and the Kronos Research exploit are directly connected.

Sources :
- CoinTelegraph
- TheBlock