According to the latest findings, the KuCoin hacker has already begun to work on how to get his catch and turn it into cash.
Today, Larry Cermak was the first to note an odd transaction made by a hacker who had targeted KuCoin just recently and brought some impressive results.
The hacker chose the technique of combining Tornado cash with Ethereum through 100 ETH batches and has sent about 3000 ETH (~ $1.25 M) so far.
The above image is clear proof of how he progressed and how much ETH has been sent so far to Tornado Cash. On this wallet, the Hacker had around $4.8 M and at present, it is only ~$3.5 M, which corresponds to an estimated value of the ETHs transferred.
According to Larry, this is not the first time Hacker used Tornado cash, but it’s the first time he’s done it from a public address.
Larry explained the behaviour of the hacker briefly, too:
- Steal from KuCoin all ERC-20 tokens
- Using Uniswap (and occasionally Kyber), convert the permissionless ones to ETH
- Scatter the ETH to different addresses
- Start using cash from Tornado to combine the sums and then possibly cash-out.
Several individuals entered this heated discussion, challenging the move, and Larry Cermak also admitted that if he proceeded like this, there was a strong possibility that he would be caught.