Hackers laundered $49m Ethereum in one week using Tornado cash - Report – Newstrends
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Hackers laundered $49m Ethereum in one week using Tornado cash – Report

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Hackers laundered $49m Ethereum in one week using Tornado cash – Report

Four Hackers behind the latest hacking schemes have collectively laundered $49.3 million worth of Ethereum in the first week of September using crypto mixer Tornado Cash.

These four hackers responsible for exploiting crypto exchange Wazir X, DeFi protocols Penpie and LiFi, and crypto entrepreneur Bo Shen moved the stolen Ethereum assets through much criticized Crypto mixer Tornado Cash.

Spot on chain data revealed that this activity by the hackers took place between September 1 and September and it involves the funneling of 20,561 ETH worth $49.3 million through the banned Tornado cash.

The Onchain activity of these hackers affected the price of Ethereum causing it to drop below $2,200 and casting a shadow on the long-term potential of the crypto asset. Ethereum however has other problems besides the sell pressure created by the hackers.

The Hackers Onchain Activity  

The four hackers in question despite all moving Ethereum employed different strategies in their dealings.

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The Penpie hacker laundered all his or her stolen assets at once moving 11,261.2 ETH, worth $26.72 million, through crypto mixer Tornado Cash. The employment of Tornado Cash by this hacker removed all doubts that the hacker was a White hat hacker.

The Penpie team has offered a 10% bounty offer to anyone who can help retrieve the stolen funds.

The Penpie hacker was praised and encouraged by an address that stole $193 million from Euler Finance in March 2023 but returned the stolen funds. The address urged the Penpie hacker not to return the stolen funds as he did in 2023.

The Wazir X hacker on the other hand is applying a slow and steady approach in his laundering of the stolen assets. The Wazir X hacker has not laundered all his stolen assets partly because of the size of the assets. The hacker stole $230 million worth of ERC 20 tokens from the exchange which happens to be India’s biggest exchange.

Selling Pressure by Hackers Pushes Down Ethereum Price  

Ethereum has become the 18th worst-performing asset over the last 30 days following sell pressure caused by hacker’s on-chain activity. The crypto asset has declined by 13% over the first week of September which coincides with the hackers laundering $49.3 million worth of Ethereum over the same time frame.

Hackers laundered $49m Ethereum in one week using Tornado cash – Report

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Gov Fubara’s suspension dents Nigeria’s image, says ex-President Jonathan

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Former President Goodluck Ebele Jonathan

Gov Fubara’s suspension dents Nigeria’s image, says ex-President Jonathan

Former President Goodluck Jonathan has stated that suspending elected officials in Rivers State risks tarnishing the country’s reputation.

He made the comment at the Haske Satumari Foundation Colloquium in Abuja on Saturday.

“These actions by key actors in the executive and legislative arms of government paint the country in a negative light,” he said.

Jonathan, speaking about the political turmoil in Rivers State, stated that, while it is not customary for former presidents to comment on political issues in order to avoid inflaming the situation, he insisted that the image of a country and the amount of investment it attracts are heavily influenced by the actions of the country’s executive, legislature, and judiciary.

Jonathan’s comments on the emergency rule came after governors from the Peoples Democratic Party said that President Bola Tinubu’s actions were unlawful and undermined Nigeria’s democratic ideals.

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Newstrends reports that Tinubu imposed a state of emergency in Rivers State and suspended Governor Siminalayi Fubara, his deputy Ngozi Odu, and state House of Assembly members for six months.

However, Jonathan stated that his speech was essential in response to numerous requests from Nigerians requesting him to speak out about the happenings in Rivers State.

He criticised the situation in which an individual can dictate to the judiciary, stating that it makes it difficult for anyone to believe in the judiciary.

 

Gov Fubara’s suspension dents Nigeria’s image, says ex-President Jonathan

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Boko Haram attacks military base in Adamawa

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Boko Haram attacks military base in Adamawa

Terorist group, Boko Haram, on Friday launched a deadly attack on a military base in Waga Village, Madagali Local Government Area of Adamawa State.

According to a report by counter-insurgency expert, Zagozola Makama, troops of the Nigerian military Joint Task Force successfully repelled the attack .

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“The attack occurred around 3:30 a.m. on Friday when suspected terrorists launched an assault on the base. However, the troops swiftly responded, forcing the insurgents to retreat,” the report said.

It was also gathered that there were no casualties among security personnel or residents of the community, and normalcy has since been restored.

 

Boko Haram attacks military base in Adamawa

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Oluwo accuses Ooni of plotting to dethrone him

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Ooni of Ife Oba Enitan Ogunwusi and Oluwo of Iwo Oba Abdulrasheed Akanbi

Oluwo accuses Ooni of plotting to dethrone him

A quiet but bruising war is raging between the Oluwo of Iwo, Oba Abdulrosheed Akanbi and the Ooni of Ife, Oba Adeyeye Ogunwusi, over alleged dethronement plots.

Oluwo, in a statement on Friday night, alleged that Oba Ogunwusi was seeking his downfall despite playing a prominent role in his emergence as the Ooni of Ife.

He stated that the link he used for Oba Ogunwusi would have been used for his elder brother, Tunji Adeyeye, who was his friend and peer at Akobo, Ibadan at a tender age.

Oluwo recalled how he arranged several meetings in Ibadan after one Akin Daodu, then a close ally of Oba Ogunwusi, begged for his intervention.

He said: “To my surprise, the same person I helped to the throne has been planning evil against me.

Oluwo recalled how he arranged several meetings in Ibadan after one Akin Daodu, then a close ally of Oba Ogunwusi, begged for his intervention.

He said: “To my surprise, the same person I helped to the throne has been planning evil against me.

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“He orchestrated my suspension from the Osun State Council of Obas meeting against the AIG who was a star witness to what transpired.

“He is using a few kings in Iwoland to destabilise my territory.

“He attacked me last month in the presence of the governor, that I am discouraging deity worship.

“He was one of those who used my former wife against me.

“He wants me to be removed as Oluwo by all means. Such is a dream that can never come true.

“No one can remove me as Oluwo. No one can kill me and no one can bring me down.

“He should keep trying. He will be the one to live to regret. His cohorts that tried it in the past failed.”

However, the Ooni of Ife, Oba Ogunwusi, speaking through his Director of Media, Otunba Moses Olafare, denied the allegations raised by Oluwo.

He said: “Oba Adeyeye has been ordained as a king from heaven, regardless of who does what. He is a king with God on his side.

“When Oluwo wanted to be king, Ooni supported him with cash and other logistics that we can’t even mention here.

“At the last Council of Oba meeting, Ooni only jokingly told Oluwo that he should not condemn any monarch for worshipping deities but should allow anyone to practice anything they feel is good for them.”

 

Oluwo accuses Ooni of plotting to dethrone him

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