Crypto Hackers Exploit Market Crash, Buy 16,892 ETH with Stolen Funds from Nomad Bridge Hack
Aug 5, 2024
Cryptocurrency hackers took advantage of the recent market crash by purchasing heavily discounted Ether using stolen funds from previous heists. On August 5, 2024, 16,892 ETH were bought using funds linked to the Nomad bridge hack from August 2022. This transaction occurred as Ether's value dropped over 20% within 12 hours, from approximately $2,760 to $2,172 .The hackers utilised 39.75 million stolen Dai (DAI) tokens to buy the ETH, subsequently transferring approximately 2,400 ETH (worth around $7 million) to the crypto mixer Tornado Cash to obscure the transaction trail . Additionally, funds from the Pancake Bunny hack were moved amid the market uncertainty, though a significant portion was reportedly lost due to a transfer error.
Previous
Next