The hacker responsible for the $82M Orbit Chain heist last New Year’s Eve has resurfaced. Blockchain analytics firm Arkham Intelligence revealed that over $47 million worth of stolen Ether (ETH) was transferred from the hacker’s wallet to Tornado Cash, a cryptocurrency mixing service known for enhancing transaction anonymity.
The transfer, which occurred on June 8th, comprised seven separate transactions totaling 12,932 ETH. According to Etherscan data, the stolen funds were funneled through Tornado Cash in batches of 100 ETH each, a tactic commonly used to further obfuscate the trail.
🚨ONGOING: $100M Orbit Chain Exploiter sends $32M to Tornado Cash after 5 months silence
In the past hour, the Orbit Chain Exploiter moved 8671 ETH ($32M) to a new address and is currently in the process of depositing it to Tornado Cash.
They stole over $100M in ETH and DAI… pic.twitter.com/Bq7BRdXqmc
— Arkham (@ArkhamIntel) June 8, 2024
This development comes as a surprise after months of silence from the hacker. The Orbit Chain exploit, which targeted the platform’s cross-chain bridge, resulted in losses initially estimated at $82 million. However, Arkham Intelligence suggests the actual figure might be closer to $100 million in stolen ETH and DAI.
While a significant portion of the stolen funds has now been moved, it appears the hacker hasn’t touched the remaining $20 million in DAI or other cryptocurrencies taken during the attack.
The use of Tornado Cash raises concerns for authorities attempting to track the stolen funds and recover them for the victims. Cryptocurrency mixing services like Tornado Cash work by pooling funds from various sources before disbursing them to different wallets, making it challenging to trace the original source of the money.
