• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Join Lightchain AI
No Result
View All Result
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Historic $109,500 Bitcoin High: Here’s What Analysts Predict Next
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Historic $109,500 Bitcoin High: Here’s What Analysts Predict Next
Tornado Cash

Hackers Moved $500K Stolen Funds To Tornado Cash Undermining The Ban

Kent Tenix
by Kent Tenix
3 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The previously sanctioned crypto mixer app Tornado Cash used to increase the anonymity of crypto funds for privacy concerns, still is being used by hackers. Two blockchain security and research firms, Peckshield and Certik, have detected the transfer of stolen funds of the DAI Maker exploit that happened in August 2021 and lost over $7 million funds in ERC20 tokens and other stablecoins.

As per the announcement of Certik, 500,000 DAI tokens linked to the victim defi project DAO Maker, which facilitates crowdfunding in crypto, were sent to the banned Ethereum mixer service Tornado on September 08.

Related Reading: Why Dogecoin Co-Creator Is Accusing Mark Cuban Of Scamming Investors

The on-chain analytic firm CertiK added;

“We are seeing a movement of $500,000 DAI to @TornadoCash from EOA 0x0B789. The address is directly connected to the DAOMaker exploiter who stole funds from @TheDaoMaker.”

Although the Ethereum mixer app came under the radar many times before to facilitate illicit money transfers, the Treasury Department’s Office of Foreign Assets Control (OFAC) banned the crypto mixer service on August 08. At the time of confiscation, the agency accused the application of helping North Korean hacker group Lazarus to launder more than $7 billion.

Notably, since the OFAC restricted the application as open public code, criticism from the crypto community has appeared. Crypto services platforms touted the government agency as overstepping its power to slap sanctions on a privacy tool also used by other legitimate users to protect their privacy.

DAIUSD
DAI’s price is currently trading around $1. | Source: DAIUSD price chart from TradingView.com

Effected Users Sued The Treasury Department Over Its Tornado Cash Ban

In response to the OFAC’s aggressive approach, six legitimate users severely affected due to the ban filed a lawsuit against Treasury Department officials last Thursday. And the prominent cryptocurrency exchange Coinbase has announced to back this case. In a 20-page complaint, the plaintiffs claimed that OFAC violated the constitution’s rights of free speech and property and wanted the court to lift this ban ASAP.

Paul Agrawal, chief legal officer at Coinbase, commented that the government’s decision halted the privacy of many legitimate users. He said,

“No one wants criminals to use crypto protocols, but blocking the technology entirely (which is what this sanction essentially does) is not what the people’s elected representatives authorized — especially when there are effective routes to more narrowly target bad actors.”

Related Reading: Tornado Cash Users Effected By Sanctions Sue The U.S. Treasury Department

In contrast to the company’s claim, exploiters of the Horizon Bridge attack of June 2022 used the same application to obscure the transactions. The hackers sent the batches of 100 ETH to the Tornado mixer after the intervals of 8 minutes, per June’s findings of Peckshield. It’s more likely that other cybercriminals get assisted by Tornado Cash to launder money, including the exploiters of Grim Finance, which transferred $3.3 million into the mixer in December 2021, and Monox finance’s heist that saw $2.1 million mixed via crypto privacy tool in last September.

Featured image from Pixabay and chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Kent Tenix

Kent Tenix

Follow

Kent is a talented freelance writer and journalist who creates insightful and thought-provoking content. With over 5 years of experience, she has honed her skills and established herself as an expert in her field. Kent is especially passionate about in-depth reporting and investigative journalism. She thoroughly researches every topic and story she covers to provide readers with comprehensive information and perceptive analysis. Whether she's reporting on politics, business, technology, or culture, Kent prioritizes accuracy, nuance, and integrity. Her goal with every piece is to inform readers and inspire meaningful conversations and positive change. Kent enjoys traveling, photography, and spending time with her family when she's not tirelessly conducting interviews or poring over data. She hopes to continue using her writing to enlighten and engage audiences on issues that matter.

Full Profile

Related Posts

crypto

Crypto Gets An Upgrade? Japan To Label It As A Financial Product

2 months ago
Top 5 Crypto Presales to Keep an Eye on in January 2025

Top 5 Crypto Presales to Keep an Eye on in January 2025

4 months ago
this-new-cryptocurrency-set-to-13x

This New Cryptocurrency Set to 13x According to Analysts

4 months ago
6 Meme Coins Making Waves This Week

6 Meme Coins Making Waves This Week

5 months ago
Musk Makes Memes Great Again – As PEPE Surges, WEPE to Follow?

Musk Makes Memes Great Again – As PEPE Surges, WEPE to Follow?

5 months ago
STARS Token Surges 22% With Pending CEX Listings

Meme Coin Price Surge Predicted for Crypto All-Stars Following CEX Listing News, $STARS Token Climbs 22%

5 months ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Bitcoin price exceeds $110,000, how can BTC holders easily...

    2 hours ago
  • AI代理幣COOKIE暴漲30% MIND of...

    2 hours ago
  • Dogecoin Outlook 2025: HJB Miner Opens a New Era of...

    5 hours ago
  • Ripple (XRP) and Dogecoin (DOGE) whales have turned to APT...

    5 hours ago
  • Breaking news: Bitcoin breaks through historical highs and...

    5 hours ago

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

Join Lightchain AI

Bitcoin

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

Altcoins

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

Categories

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

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 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.