The post Orbit Chain Exploit: Hacker Moves $48M to Tornado Cash appeared first on Coinpedia Fintech News
In a major news in the crypto-fraud domain, the defrauder of the Orbit Chain has withdrawn a whopping $48 million and laundered it to the Tornado Cash. This comes at a time when the activity was stagnant since the first incident that occurred at the onset of the New Year celebration. The Orbit Chain cross-chain bridge was affected and millions of dollars stolen; it is believed this could be as high as $100m at the moment.
Specifically, on June 8, the hacker made seven transactions to send 12,932 ETH, or $47.7 million, to a new address according to the data from Arkham intelligence. So the address then proceeded to transfer the funds to Tornado Cash which is a crypto money launder, which helps in concealing the flow of the stolen funds. The above transactions broke down going by the Etherscan record with a batch of 100 ETH.
The hacker has not converted the $20 million
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