Drift Protocol Hack Wallet Transfers 25,700 ETH to Tornado Cash
Written with artificial intelligence.
A wallet linked to the Drift Protocol hack has transferred 25,700 ETH, valued at approximately $61.56 million, to Tornado Cash. After a two-month halt in fund movement, this transfer marks the resumption of activity on the 20th.
Overview of the Fund Transfer
A wallet associated with the Drift Protocol hack has resumed fund movement after a two-month pause, transferring 25,700 ETH (approximately $61.56 million) to Tornado Cash. This transfer was tracked by the on-chain analysis account Lookonchain, which confirms the amount deposited but notes that it does not reflect any sales or cash-outs on exchanges.
Previous Transfers
Prior to this transfer, another on-chain analysis account, Onchain Lens, reported that 13,400 ETH, valued at around $32 million, had already been sent to Tornado Cash. It is important to note that these figures come from different tracking entities and timeframes, making it difficult to simply sum them or separate them into initial and subsequent transfers.
Implications of Tornado Cash
Tornado Cash operates as a mixer that utilizes separate deposit and withdrawal addresses, complicating direct connections between sending and receiving addresses on-chain. This makes tracking further movements of the funds challenging. However, the deposit alone does not imply that sales or cash-outs have occurred.
Conclusion
This movement is not indicative of a new hack but is understood to be a transfer of funds linked to the Drift Protocol incident. The wallet's connection to the hacking event is based on monitoring and labeling by accounts like Lookonchain, but independent forensic validation of the transactions has not been conducted.