Losses from hacking the DeFi Uranium Finance project amounted to $50 million

[Carding 4 Carders]

A hacker who hacked the decentralized project Uranium Finance two years ago, recently transferred 3.1 million BUSD stablecoins from the BNB Chain network to Ethereum, and then laundered part of it through the cryptomixer Tornado Cash.

The analytical company PeckShield reported that the attacker first transferred $10,000 in BUSD stablecoins to the Ethereum network using the Stargate inter-network protocol, which acted as a bridge. Then I transferred 500,000 BUSD in six separate transactions, and then 100,000 BUSD in one transaction. A total of 3.1 million Busds were moved.

Shortly after moving the crypto assets, the hacker transferred 1,200 ETH worth $1.89 million for 12 identical transactions to the Tornado Cash cryptocurrency mixer.

The stolen funds were set in motion 61 days after an attacker tried to launder 1,100 ETH via Tornado Cash from the same address in August. In July, the hacker transferred 530 ETH there, in June — 670 ETH, and in May — 650 ETH. Thus, the unknown person paid out approximately the same amount every month. For the first time, he withdrew funds via Tornado Cash in March, using a different address to transfer 2250 ETH, which at that time was worth $3.35 million.

 

[Brother]

Anonymous blockchain analyst ZachXBT discovered that the hacker who hacked the Uranium Finance DeFi platform in 2021 used the card game Magic: The Gathering to launder some of the funds.

According to ZachXBT, over the past year, a hacker withdrew about 11,200 ETH from the Tornado Cash transaction mixer in portions of 100 coins. He then transferred these funds into “wrapped” ETH (WETH), transferred them to a new address, exchanged them for USDC stablecoins, and used some of them to buy Magic: The Gathering cards. Also, part of the funds was transferred to centralized exchanges Kraken, Bitpay and Coinbase.

1/ Throughout this year I have been monitoring someone who has withdrawn 11,200+ ETH ($25M) from Tornado Cash and spent the majority of it on Magic The Gathering (MTG) trading cards. Here’s my analysis of where the funds went and what the potential source of funds could be. — ZachXBT (@zachxbt) December 7, 2023

https://twitter.com/i/web/status/1732790450350703052

The analyst notes that the hacker turned to an American broker who found sellers of collectible game cards. He spent "millions on starter decks, alpha sets and sealed card boxes" for which he overpaid 5-10%. At the same time, the hacker sent the cryptocurrency to the broker in advance, so the buyers did not know his identity. All purchased cards are rare and quite expensive, and transactions for their sale are quite rare.

Let us remind you that the Uranium Finance project is a fork of the Uniswap V2 exchange based on Binance Smart Chain. The hacker managed to remove $50 million worth of various tokens from the protocol, and the hack occurred during the migration.

 

[putapra]

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