Technology

Tornado Cash Is Crypto Hackers’ Favorite Way to Cash Out, But Experts Say It Can Be Traced

In March of this year, suspected North Korean government hackers stole more than $600 million in ether from hyped-up play-to-earn game Axie Infinity in one of the largest crypto hacks in history. The hackers then sent a part of the proceedings ($100 million at the time) through the Tornado Cash, a so-called mixing service designed to obscure the origin of funds. That was a very predictable move, as Tornado Cash has become extremely popular among hackers and crypto thieves. Tornado Cash is a protocol that allows users to send in some cryptocurrency using their own wallets and get it back via different addresses. Its code is designed to mix a user’s crypto with a pool of other Tornado Cash’s users’ crypto in a smart contract, making it harder—if not impossible—to track. The service’s official site claims that users have deposited more than 3.2 million ETH (roughly $3.5 billion) in the service since it was launched in August of 2019.

Read more : Tornado Cash Is Crypto Hackers’ Favorite Way to Cash Out, But Experts Say It Can Be Traced.

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.