$46 million in ill-gotten crypto on the move again

One of the biggest hacks in the industry is back on track. On-chain data suggests that $46 million more of the stolen assets have been transferred from the hacker’s wallet. This heist was among the most significant in industry history.

Wormhole attack, which took place in February 2022 due to a vulnerability in Wormhole’s token bridge was the third largest crypto breach in 2022. Wrapped Ethereum (wETH), valued at $321 million, was taken.

PeckShield, which specializes in blockchain security reports that the hacker’s connected wallet is active again and that it has moved $46 Million worth of crypto assets.

It was made up of approximately 24,400 Ethereum Staking Tokens Wrapped by Lido Finance, which has a value around $41.4 Million, and 3,000 Ethereum Staking Tokens Wrapped by Rocket Pool (rETH), that have a Value of approximately $5 million and were moved to MakerDAO.

PeckShield says that the hacker is looking to gain or arbitrage opportunities from their stolen wealth. The assets were purchased for 16.6 million DAI.

The MakerDAO stablecoin could then be used to buy 9,750 Ethereum at a cost of approximately $1,537 and 1,000 STETH. They were then wrapped into 9,700 wstETH.

A blockchain detective discovered that the hacker had “purchased the dip” on February 10, 2018.

Nevertheless, Ether (ETH’s) price has fallen below these levels over the past several hours. CoinGecko reports that ETH was trading at $1.505 at the time this article was written, a loss of 2.6% over the course of the day.

The price of stETH, which was depreciating from Ethereum, reached a peak of $1,570 as the transactions took place. They were trading at $1541, 2.4% more than ETH, at the time of writing. Additionally, the price for wstETH has increased to $1676, 11.3% more than the value the underlying asset.

Just a few weeks ago, the hacker sent $155 million in Ethereum to a decentralized exchange.

On January 24, 1995,630 ETH were transferred to the OpenOceanDEX. It was later made into ETH-pegged asset. These ETH-pegged assets comprised Lido’s stETH, and wstETH.



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