Hacker Launders $4.8M in DeltaPrime Stolen ETH via Tornado Cash

On March 23, a hacker involved in the DeltaPrime hack transferred 310 ETH, valued at approximately $4.8 million, to Tornado Cash, a privacy-focused cryptocurrency mixer. The transaction was detected by blockchain analytics firm Elliptic, which tracks illicit activities on the Ethereum blockchain.

The DeltaPrime hack, which occurred on March 21, resulted in the loss of $5.9 million worth of cryptocurrencies, including ETH, USDC, and DAI. The hacker exploited a vulnerability in the DeltaPrime protocol, allowing them to drain funds from users' wallets. The hacker then transferred the stolen funds to a centralized exchange, where they were converted into ETH.

Tornado Cash is a decentralized mixing service that allows users to obfuscate the origin of their cryptocurrency transactions. The service works by breaking up transactions into smaller parts and shuffling them through a network of smart contracts, making it difficult to trace the original source of the funds.

The use of Tornado Cash by the DeltaPrime hacker suggests an attempt to launder the stolen funds and evade detection by law enforcement. However, blockchain analytics firms like Elliptic can still track the movement of funds through the mixer, as the transactions leave a trail on the blockchain.

The DeltaPrime hack is just one of many recent incidents involving the theft of cryptocurrencies from decentralized finance (DeFi) platforms. As the DeFi ecosystem continues to grow, so does the risk of hacks and exploits. Developers and users must remain vigilant and take steps to secure their funds and protect against potential attacks.