EOA Wallet linked to LianGo Protocol Exploitation Transfers Funds to Tornado Cash
It is reported that according to CertiK monitoring, the EOA account address (0xf5bf…) has transferred the funds to Tornado Cash. The EOA wallet is related to…
It is reported that according to CertiK monitoring, the EOA account address (0xf5bf…) has transferred the funds to Tornado Cash. The EOA wallet is related to the malicious exploitation of LianGo Protocol.
LianGo Protocol’s associated EOA wallet address has transferred 5300 BNBs to Tornado Cash
Interpretation of the news:
CertiK monitoring has recently reported that funds have been transferred from an externally owned account (EOA) address, allegedly linked to the malicious exploitation of the LianGo Protocol. The funds have been sent to Tornado Cash, a decentralized privacy solution built on the Ethereum blockchain. With Tornado Cash, users can mix their crypto holdings to increase their anonymity on the blockchain.
The EOA account address in question (0xf5bf…) has been identified as the source of a recent incident that occurred on the LianGo Protocol. The LianGo Protocol, a decentralized finance (DeFi) platform that allows users to create synthetic assets and trade them, was recently subject to an exploit that resulted in a loss of funds. The EOA wallet linked to the exploit was involved in a series of transactions that drained the LianGo liquidity pool of over $10 million.
The transfer of funds from the EOA wallet to Tornado Cash may be an attempt to obscure the trace of the funds and make it harder to trace the perpetrators of the exploit. Tornado Cash is a service that allows users to mix their crypto transactions and obfuscate the origin of their funds. It uses a smart contract to hold funds, and users can deposit, withdraw, and receive mixed funds through this contract. By mixing funds in this manner, users can maximize privacy and anonymity on the blockchain.
The use of Tornado Cash by malicious actors is not uncommon. Criminal enterprises have been observed to use the service to launder their ill-gotten funds, making it harder for law enforcement agencies to track and confiscate them. Tornado Cash has previously refused to comply with requests from authorities to reveal the identities of their users, claiming that it violates their commitment to privacy.
The transfer of funds from the EOA address to Tornado Cash is another example of the challenges facing DeFi platforms and their ability to maintain security and integrity. The transparency and accountability of DeFi have been questioned repeatedly in recent times, and the LianGo Protocol incident is just one more instance of the need for stronger measures to ensure the safety of these platforms.
In conclusion, the transfer of funds from the EOA address to Tornado Cash underscores the need for greater vigilance on the part of DeFi platforms, their users, and regulators. The use of privacy solutions to obscure transactions can create additional challenges for law enforcement agencies and other stakeholders that seek to ensure the safety and integrity of the blockchain ecosystem. The LianGo Protocol incident and the subsequent transfer of funds to Tornado Cash serve as a warning to all those engaged in blockchain transactions to be mindful of the risks and potential consequences of their actions.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/1547/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
The Starknet Foundation’s Early Adopter Grants Committee: Empowering Early Builders
On March 23, the Starknet Foundation established the Early Adopter Grants (EAG) Committee, whose task is to initially allocate STRK tokens to early builders of Starknet on-chain ap
-
What does “T” mean in mining (what is mining mining)
What does \”T\” mean in mining? According to cryptoglobe news, BTC miners use the
-
On April 25th, Arbitrum Begins Full Distribution of Initial ARB Allocation for DAOs
On April 25th, according to official sources, Arbitrum has begun to fully distribute the initial ARB allocation for DAOs in the ecosystem, and the first batch will be distributed t
-
What does MoneroN card use for (Does MoneroN card consume memory)?
What does MoneroN card use for? MoneroN card is a payment card based on blockch
-
What is ETO (and EGT) Coin?
ETO (Ethereum 2.0) is a highly anticipated blockchain project that is currently
-
Mobile NFT Portfolio Tracker: Floor Expands to Include Solana NFTs
According to reports, the mobile NFT portfolio tracking application Floor has been extended beyond the Ethereum ecosystem, with support for Solana NFT starting today. This means th
-
Standard Bank CEO Expresses Support for African Central Bank’s Digital Currency
It is reported that at yesterday’s meeting of the African Central Bank of Standard Bank, Standard Bank CEO Sim Tshabalala expressed broad support for the Central Bank’s Digital Currency (CBDC), but believed that retail options could lead to unfair competition. CEO of Standard Bank: Retail CBDC may lead to unfair competition Analysis based on this information:The African Central Bank of Standard Bank held a meeting yesterday where the CEO of Standard Bank, Sim Tshabalala, announced his support for the proposed Digital Currency by the Central Bank. However, Tshabalala expressed concerns that offering Retail options for the new currency could result in unfair competition. The Digital Currency proposed by the African Central Bank is an innovative step towards modernizing the financial industry across the African continent. Traditional banking systems rely on physical currency, which makes them prone to currency theft and the costs of printing and distribution. Moreover, the current payment systems are slow and costly, making it difficult for…
-
When did Bitcoin rise (When did Bitcoin start)?
When did Bitcoin rise, when did it rise, what is it?On January 2, 2009, Satoshi
-
Launch of Audited Upgraded Version of Polygon zkEVM Test Network
On February 24, Polygon Labs will launch the audited upgraded version of Polygon zkEVM test network next week. The test network will be almost the same as the …
-
What Does Bitcoin POS Mechanism Mean (Bitcoin Prs)
What does the Bitcoin POS mechanism mean? What is the POS mechanism of Bitcoin?
-
The Arthur Hayes Connection: Bridging ETH and Converting to USDT
According to the report, PeckShield monitoring data showed that the address marked Arthur Hayes bridged 137 ETHs from Arbitrum, converted them into more than 2…
-
Solana Whales Transfer Nearly $70 Million of SOL to Coinbase
It is reported that according to Whale Alert data, a batch of Solana whales have transferred nearly US $70 million of SOL to Coinbase. These whales have carrie…
-
Blur and LooksRay remove default display of third-party suspicious tags in NFT market
It is reported that Blur in the NFT market tweeted that Blur and LooksRay will no longer display third-party suspicious tags in the UI by default from today. B…
-
Montana Becomes Latest State to Embrace Bitcoin Mining
According to reports, encrypted KOL Bitcoin Archive tweeted that the US state of Montana passed the Bitcoin \”mining\” bill by 37 votes to 13.
The US sta…
-
What CPU is needed for Ethereum mining? (How much GPU memory is needed for Ethereum mining?)
To mine Ethereum, what CPU is needed for Ethereum mining? According to mining co
-
The Future of Bitcoin’s Lightning Network: Spirit’s Lightning Development Kit (LDK)
It is reported that Spirit, a Bitcoin open source development entity supported by Jack Dorsey\’s company Block, has released a new roadmap for the Lightning Development Kit. LDK is