Hacker Moves $2.5M of Deribit Loot to Tornado Cash

Per Etherscan data, the culprit behind last week’s $28M attack on exchange platform Deribit is transferring the funds via crypto mixer Tornado Cash. Hacker Transfers Part Loot in 17 Operations So far, the Deribit attacker has moved 1,610 Ethereum tokens, over 2.5 million USD at ETH’s current prices.  The hacker processed the move in 17 transactions, sixteen 100 ETH transfers, and 10 ETH later on. The first dates back to November 5, roughly 2 days after the breach took place. Notably,…

Tornado Cash Dev Denied Bail

A Netherlands court has ruled that Tornado Cash developer Alexey Pertsev be denied bail. The inculpated programmer will inevitably spend a further three months in detention before any further rulings. Netherlands Judge Rules Against Pertsev 29-year-old Alexey Pertsev, one of the developers responsible for the Tornado Cash code, has been denied bail. This comes hot on the heels of his August 10 arrest. Dutch Financial Crimes Agency FIOD had apparently had their eye on Tornado Cash since June. Authorities finally…

What is Tornado Cash, and How Does It Work?

Decentralized and non-custodial, Tornado Cash is an Ethereum-based solution for privacy and anonymity. Severing the on-chain link between those who send and receive coins enhances transaction anonymity.  This guide will provide our readers with more insight into Tornado Cash. We will start with a general introduction and move deeper into how Tornado Cash works. We will also add a list of pros and cons to this system for the reader's benefit. Understanding Tornado Cash Decentralized protocols such as Tornado Cash…