A hacker participating in the Rain crypto exchange attack recently cashed out $2.9 million. The stolen Ether was sent to Tornado Cash.
Whenever this mixer takes place it makes it harder to track the funds. This incident illustrates the difficulty in combating cryptocurrency thefts.
Tornado Cash Used in Rain Exchange Hack
Security firm PeckShield noted that the hacker withdrew 1,155 Ether to Tornado Cash, an unregulated crypto mixer. This platform employs cryptographic methods to ensure that the transactions are not easily traceable. Following this, the link between the source and the destination addresses is broken. The same helps the users keep their anonymity and makes money laundering easier.
After the discovery, PeckShield informed the crypto community, thus raising awareness of the hacker’s activities. The hack at Rain, an exchange based in Bahrain, began with the theft of $14.1 million in digital currencies. This laundering attempt is part of a larger scheme to
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