• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: SEC Strikes: Seeks Temporary Restraining Order To Freeze Binance.US Assets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: SEC Strikes: Seeks Temporary Restraining Order To Freeze Binance.US Assets
Ethereum DAO Hacker ETHUSD ETH

Ethereum DAO Hacker Doxxed? How This Chainalysis Tool Led To His Identity

Reynaldo Marquez by Reynaldo Marquez
1 year ago
in Ethereum
0

Reporter Laura Shin shared new information related to the mythical 2016 Ethereum DAO hack. As part of a larger investigation for her new book, Shin claims a long-rumored Chainalysis tool tracked down the identity of the bad actor.

Related Reading | Data Shows Bitfinex Hack Woke Up Largest Ever 5yr+ Bitcoin Supply

6 years ago, this hacker managed to steal 3.6 million in ETH from The DAO leading to one of the most controversial decisions in the history of this cryptocurrency; the hard fork which created the blockchain known as Ethereum, and the original network known as Ethereum Classic. The stolen funds are currently valued at over $9 billion.

According to Shin, her investigation indicates Toby Hoenisch (36) was behind the hack. The alleged suspect is an Austria-born programmer based in Singapore at the time of the Ethereum DAO hack.

Hoenisch, per the investigation, co-founded a crypto company called TenX which participated in the Initial Coin Offer (ICO) craze one year after the hack. The company managed to raise $80 million with their offer and launched a token that followed the same fate as many of the cryptocurrencies with an ICO; it failed.

In an email sent to Shin, Hoenisch denied his implication with the DAO hack and called the investigation and its conclusions “factually inaccurate”. The alleged suspect was to provide additional information that could clear the events around the hack, but as Shin wrote, “never answered my repeated follow-up messages”.

Shin added the following providing more context on the relevance of the 2016 DAO hack:

The DAO theft famously and controversially prompted Ethereum to do a hard fork—where the Ethereum network split into two as a way to restore the stolen funds—which ultimately left the DarkDAO holding not ETH, but far less valuable Ethereum Classic (ETC). The proponents of the fork had hoped ETC would die out, but it now trades around $30. That means the descendant wallets of the DarkDAO now hold more than $100 million in ETC—a high dollar.

Tracking Down The Ethereum DAO Hacker

The journalist revealed research firm Chainalysis provided her with access to a “powerful and previously secret forensics tool”. In the crypto community, there has been speculation about this tool said to be able to break the CoinJoin transaction structure of some crypto wallets, specifically Wasabi.

Created as a way to shield Bitcoin investors from firms such as Chainalysis, CoinJoin is used to mix coins and prevent their transaction history to reveal the identity of previous holders. As Shin stated, following the events of the hack and the subsequent fork, the hacker attempted to cash out the stolen funds via an exchange called ShapeShift.

This platform would let the bad actor swap their Ethereum Classic (ETC, due to the fork), for Bitcoin. In the span of two months, the hacker was able to exchange the stolen funds for 282 BTC before ShapeShift stopped future trades. Shin added:

Chainalysis saw the presumed attacker had sent 50 BTC to a Wasabi Wallet, (…). Chainalysis de-mixed the Wasabi transactions and tracked their output to four exchanges. In a final, crucial step, an employee at one of the exchanges confirmed to one of my sources that the funds were swapped for privacy coin Grin and withdrawn to a Grin node called grin.toby.ai.

Toby.ai was also part of the IP address that hosted a Bitcoin Lightning node called ln.toby.ai and lnd.ln.toby.ai which coincided with @tobyai a handle used by Hoenisch across different social media platforms.

In addition, Shin claims the email associated with the ShapeShift account trading the stolen ETH funds into bitcoin ended with @toby.ai. Hoenisch also publicly displayed considerable knowledge on the DAO itself and its hack, and even tried to warn the team behind the decentralized entity to no avail.

It remains to be seen if Hoenisch will be confirmed as the hacker, or if authorities will launch a formal investigation.

Related Reading | How The U.S. Government Seized 119K Bitcoin, Crypto Easier To Track?

As of press time, ETH trades at $2,612 with a 1.6% profit on the daily chart.

Ethereum ETH ETHUSD
ETH with small profits on the daily chart. Source: ETHUSD Tradingview
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Reynaldo Marquez

Reynaldo Marquez

As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.

Related Posts

Ethereum (ETH)

VanEck Says This Is When Ethereum (ETH) Will Reach $11,800

2 days ago
Ethereum

Ethereum Bearish Signal: Profit-Taking Transfers Spike

2 days ago
Ethereum

Bullish Signal? Ethereum Average Fees Declines 69% Since Early May

6 days ago
Ethereum Deribit

Ethereum Open Interest On Deribit At A 3-Year High

1 week ago
Ethereum (ETH)

Long Dormant $14.7 Million Ethereum ICO Wallet Surfaces After Eight-Year Slumber

1 week ago
Ethereum (ETH) Whales

Ethereum Whales On The Rise, Acquire Over $9 Billion ETH In 2023

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    6 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    6 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    6 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Ripple IPO Could Break Every Record, Learn How You Can...

    39 mins ago
  • Axie Infinity (AXS) Price Prediction: Can AXS Bounce Back?...

    2 hours ago
  • Top Cryptos to buy today: TOADS, ADA, RNDR, SOL

    3 hours ago
  • Is PEPE’s hype over? A look at the Next 5 Big...

    3 hours ago
  • 3 Top DeFi Cryptocurrencies for June 2023: Solana, Cardano...

    7 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.