- BitBrowser was recently hacked, with the network announcing that its server’s cached data had been compromised.
- MistTrack collaborated with the crypto community, compiling a list of addresses relating to the hacker.
- One of the identified addresses moved 236.37 ETH, worth approximately $386,000, accounting for 70.6% of the stolen funds.
- Meanwhile, projects offering “mixing” services for crypto to the public could face DOJ’s wrath.
BitBrowser recently indicated that its server’s cached data had been compromised, with the bad actor making away with a “significant amount of cryptocurrency assets.” Cryptocurrency tracking and compliance platform MistTrack collaborated with the crypto community to identify and tabulate all addresses related to the exploiter.
MistTrack updates from BitBrowser exploit
Revelations from the collaboration show that the bad actor has recently moved 236.27 Ether (ETH) to eXch, a mixing service that helps hide transactions.
The 236.27 ETH is worth approximately $386,000 at current rates while constituting only 70.6% of the entire loot.
This is not the first report from MistTrack, as the firm made several revelations previously. On September 1, the cryptocurrency tracking and compliance platform indicated that the exploiter had moved “funds worth $110,000 leveraging several blockchains, including Ethereum, Optimism, Arbitrum, and ZkSync Era. On the same day, the bad actor moved 51 ETH to eXch.
The exploiter capitalized on tools such as Socket and Railgun to conceal transaction history, explaining the time it takes to trace their movements.
Tornado Cash developers Roman Storm and Roman Semenov were arrested only recently, with the US Department of Justice (DOJ) charging them for laundering up to $1 billion in stolen funds. Citing Deputy Secretary of the Treasury Wally Adeyemo on the matter:
Even after they knew the Lazarus Group was laundering hundreds of millions of dollars worth of stolen virtual currency through their mixing service for the benefit of the Kim regime, Tornado Cash’s founders continued to develop and promote the service and did not take meaningful steps to reduce its use for illicit purposes.
Like Tornado Cash, platforms that help bad actors conceal their activities after stealing user funds could face more scrutiny Tornado Cash as these exploiters look for ways to obfuscate hundreds of millions of dollars in virtual currency.
Nevertheless, this points to the challenges in the crypto realm.