Stablecoins Valued at $600k from 2021 DAO Maker Breach Transferred Through Tornado Cash

Tornado Cash has once again emerged as the focal point for misappropriated funds from a DeFi protocol.

An Ethereum wallet linked to the perpetrator of the DAO Maker breach in 2021 transferred $600,000 worth of DAI stablecoin via the contentious coin mixer.

• As reported by the blockchain security firm PeckShield, the wallet had remained inactive for over 200 days.
• This transaction was identified nearly seven months after another wallet associated with the exploiter moved $500,000 worth of DAI through Tornado Cash.
• For those unfamiliar, DAO Maker, a fundraising platform for cryptocurrency initiatives (not to be confused with the more prominent MakerDAO), was compromised in August 2021, resulting in the theft of over $7 million.
• The attacker gained access to the platform’s funds by exploiting a vulnerability in DAO Maker’s contract that affected more than 5,000 accounts holding USDC.
• Cyberattacks have continued to disrupt the decentralized finance sector. Malicious actors targeted these protocols as the cryptocurrency market experienced another bull run in 2021.
• DeFi protocols subsequently became the predominant targets of hacks, representing over 82% of all digital assets stolen by hackers the following year.
• In 2022, DeFi protocols reported losses totaling $3.1 billion, an increase from 73.3% in 2021.
• This recent incident occurs against the backdrop of an exploit on the well-known centralized crypto exchange Bitrue, which reported a loss of $23 million in digital assets during the event.

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