Over $1.5 Million of ETH From the AscendEx Hack Moved to Uniswap

Two months after exploiting the crypto exchange AscendEx (formerly Bitmax), the anonymous hackers have transferred around $1.5 million worth of Ethereum to Uniswap in their first attempts to launder the money.

CryptoPotato reported in mid-December when the three-year-old digital asset trading platform became the latest victim of a security breach.
Early estimations showed that the total amount swiped was the equivalent of about $80 million in Ether, Binance Coin, and MATIC.
The addresses that received the funds were blacklisted immediately, and there was little-to-no movement until today.
However, the blockchain security company PeckShield highlighted that there’s activity coming from one of the Ethereum addresses.
More specifically, the hackers sent roughly $1.5 million worth of ETH to Uniswap in their first attempts to launder the funds.

The @AscendEX_Global incident hackers start laundering money. The hackers swapped erc20-token on @Uniswap and aggregated ether to this wallet :https://t.co/xKV2x9R0bt pic.twitter.com/wfNqthS2Yx

— PeckShieldAlert (@PeckShieldAlert) February 18, 2022

Being a decentralized exchange, Uniswap doesn’t have any KYC requirements, meaning that the perpetrators can mix their coins and send them to new addresses without being traced.
After the hack, AscendEx suspended all withdrawals and deposits for security reasons, and it took the exchange a little over a week to resume all services.

Read More?

Post is imported from RSS feed, by one of our guest editors. G6 does not edit or moderate the content. G6 is not responsible for your actions. No rights owned by G6. To remove the post, please email us at [email protected]

No Comments

Sorry, the comment form is closed at this time.