Attacker Steals $3.047 Million USDC and Launders via Tornado Cash

ZachXBT reports a theft of 3.047 million USDC on Ethereum, where stolen funds were converted to ETH and laundered through Tornado Cash.

ETH
USDC

Summary

An unknown victim lost 3.047 million USDC on the Ethereum network, with the attacker converting the stolen funds to ETH and quickly laundering them via Tornado Cash. Blockchain investigator ZachXBT identified the Ethereum address involved in the theft.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle, widely used for transactions and trading in cryptocurrency markets.
  • Tornado Cash: A decentralized Ethereum-based mixer allowing users to obscure the origin and destination of cryptocurrency transactions.
  • Ethereum Network: A decentralized blockchain platform supporting smart contracts and cryptocurrency transactions, including tokens like USDC and ETH.