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.
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.
This incident underscores the ongoing battle between crypto security measures and those seeking to exploit them. Law enforcement agencies are continuously developing methods to track illicit cryptocurrency activity, but mixers like Tornado Cash pose a significant challenge.
The Orbit Chain hack serves as a cautionary tale for investors and developers in the crypto space. It highlights the importance of robust security protocols for cross-chain bridges, which are increasingly targeted by hackers due to the vast sums of money they handle.
As the investigation into the Orbit Chain hack continues, it remains to be seen whether authorities can pierce the anonymity provided by Tornado Cash and bring the perpetrators to justice.
