iEarn Hacker Continues To Launder $11.6M Loot By Twister Money

An older model of Yearn Finance protocol was hacked final month the place the hacker exploited the vulnerability for $11.6 million in stablecoins. Within the newest transactions, the exploiter moved over 2000 ETH, price $3.6 million to Twister Money.

Blockchain analytics agency PeckShield reported that the exploiter is shifting funds to completely different addresses after which routing them to Twister Money. Thus far because the hack, the hacker has almost laundered $9.3 million price of loot by means of layered transactions on Twister Money.

The hacker minted 1 quadrillion yUSDT

As reported earlier, PeckShield detected a hack that allowed the attacker to mint over 1 quadrillion Yearn Tether (yUSDT). Lanter, the hacker swapped these tokens for different stablecoins price $11.6 million. Exploiter transferred 1000 ETH to the sanctioned crypto mixer the identical day.

As per PeckShield, funds have been break up into completely different addresses which can be then being transferred to the crypto mixer by means of layered transactions. One handle linked to the iearn exploiter transferred a complete of 4,134 ETH to the sanctioned crypto mixer.

Crypto hacks drop 70% since Twister Money ban

Blockchain intelligence agency TRM Labs reported that the business noticed a dramatic drop within the variety of hacks within the first quarter of 2023 after the sanctions positioned on the crypto mixer Twister Money.

As per the report, hackers stole roughly $400 million from crypto initiatives throughout 40 assaults, representing a 70% lower in cash stolen in comparison with the identical interval in 2022. The report highlighted the business’s optimistic pattern to authorized actions in opposition to hackers and final yr’s sanctions on Twister Money which made it “troublesome to launder the proceeds” that led to the change.