Templedao Hacker Transfers Funds Using Cryptocurrency Mixer Tornado Cash

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Last Updated on October 17, 2022 by Bitfinsider

According to data from Etherscan, the hacker of TempleDAO, a protocol that claims to provide a sustainable income via staking, has transferred stolen funds using the cryptocurrency mixer Tornado Cash.

One of TempleDAO’s staking vaults was compromised earlier this month, resulting in the theft of 1,830 ETH, or approximately $2.3 million.

A roughly equivalent amount of ETH has been transferred from an address identified as belonging to the TempleDAO hacker to a Tornado Cash router, as first reported by blockchain data firm Peckshield. This began with a deposit of 0.1 ETH that took place within the past few hours.

Tornado Cash is a service for mixing cryptocurrencies that allows users to conceal transaction details. The U.S. Treasury sanctioned the mixer and 44 associated Ethereum and USDC wallets in August, citing its association with high-profile hacks such as the Ronin and Harmony breaches. It specifically identified these hacks as having benefited North Korea’s Lazarus Group and accused the mixer of laundering more than $455 million on its behalf.

This new development in the TempleDAO hack follows a month of significant hacks in the cryptocurrency industry. The Block reported on October 12 that Chainalysis data indicated that October is currently the month with the most crypto funds stolen.

The data indicated that 11 breaches totaling $718 million have occurred so far this month, surpassing the $3 billion expected to be stolen in 2021. This includes the $100 million hack of Binance’s BNB cross-chain bridge and the $114 million exploit of Mango Markets on Monday.

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