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RocketSwap Exploiter Launders $430K Worth of Stolen Crypto Through Tornado Cash, Binance, OKX, MEXC
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The individual or group responsible for the RocketSwap exploit has laundered 227 ETH worth approximately $430,000 through multiple channels.
#PeckShieldAlert#RocketSwap Exploiter-labeled address on #Ethereum has laundered ~169 $ETH into #TornadoCash, bridged ~86 $ETH to #Arbitrum & #BNBChain and then transferred them to #Binance (~347.9 $BNB & ~34 $ETH) & #OKX (~9K $USDT) and swapped ~2 $ETH for $TIP and transferred… pic.twitter.com/t3MIcvahD1
— PeckShieldAlert (@PeckShieldAlert) October 18, 2023
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Plan Of Action
About a week after the hack, the hacker transferred 277 ETH to another wallet.
This wallet then laundered approximately 169 ETH through TornadoCash.
Following these initial transactions, they proceeded to bridge the remaining 86 ETH to Arbitrum and BNBChain.
The exploiter then transferred 347.9 BNB and 34 ETH to Binance, along with roughly 9,000 USDT to OKX.
There was also an exchange of about 2 ETH for TIP, and these tokens were subsequently sent to MEXC.
Peckshield has provided a visual representation of the flow of these funds in a chart.
Greater Support From CEXes
Questions have emerged regarding whether more actions can be taken to freeze these assets and ascertain the exploiter's identity, especially now that the funds are within centralised exchanges such as OKX and Binance.
The exchange's Know Your Customer (KYC) policy can also likely associate the wallet with a person.
In a bid to stop terrorist financing, Binance has frozen all accounts associated with known terrorist organisation Hamas.
It stands to reason that they can likely do the same for the RocketSwap exploiter.
RocketSwap Hack
Coinlive previously reported on how RocketSwap was hacked in the August of this year, resulting in losses exceeding $865,000.
The breach was attributed to a compromise of their private keys, believed to have originated from vulnerabilities in their online servers.
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