- 8,960 ETH converted to DAI in 50 minutes
- No official statements from project leaders
- Impact on spot markets, not on DeFi liquidity
A hacker swiftly sold 8,960 ETH for DAI stablecoin after withdrawing them via Tornado.Cash, in a transaction that took place over 50 minutes.
The event underscores vulnerabilities in crypto security, with potential ripple effects on DAI and ETH markets, although no official responses have been made yet.
A hacker quickly sold 8,960 ETH for DAI, totaling $39.26 million, shortly after withdrawing the funds from Tornado.Cash. Blockchain analysis tracked the rapid transaction activity, but there are no verified public statements from key figures.
The unidentified hacker executed the conversion using three addresses to withdraw ETH from Tornado.Cash, suggesting prior mixing activities to obscure its provenance. No official commentary has emerged from major crypto leaders including Vitalik Buterin.
The sale primarily affected the ETH and DAI spot markets but did not significantly disrupt DeFi TVL or exchange liquidity. The conversion has not triggered responses from regulatory or institutional bodies yet.
No acknowledged disruptions in major exchanges or asset stakes occurred following the hack. With a focus on DAI conversion, the impact remained mostly confined to specific markets rather than broader financial systems.
The hack mirrors past events like exploits involving Tornado.Cash with no responsible claims made. Public reaction has been minimal across social or developer channels, reflecting a lack of visible shifts in project roadmaps or governance.
Analysts predict that the spot market activity could remain volatile due to such unauthorized liquidations. The absence of regulatory feedback might imply heightened monitoring practices in the future to counter obfuscation tactics more effectively.
“The hacker withdrew nearly 9,000 ETH using Tornado.Cash, suggesting an advanced chain obfuscation strategy.” — Yu Jin, Blockchain Analyst, ChainCatcher
