The Kronos Research hacker has resurfaced the internet after moving 800 Ethereum (ETH), approximately $2.4 million, to Tornado Cash.
This action comes at a tense time for the crypto mixer protocol, currently embroiled in a legal battle with the US Department of Justice over allegations of facilitating money laundering.
Kronos Research Hacker ETH to Tornado Cash
The transfer of such a significant amount of ETH was identified by PeckShield and tagged as “Hacker 4.” Notably, this transfer is part of a larger pattern from the Kronos Research hacker, who previously funneled $7.3 million to Tornado Cash earlier in May and engaged in a $117 million transaction to Poloniex last November.
This resurgence of the hacker’s on-chain activity clashes with recent trends in the crypto sector. Reports suggest more than a 65% drop in the frequency of crypto hacks over the last month. However, the financial repercussions of these breaches remain critically high, spotlighting the enduring challenges in ensuring security.
“KronosResearch Hacker 4 has transferred 800 ETH (worth ~$2.4m) to Tornado Cash,” PeckShield alerted.
The Department of Justice’s stance has been stern, particularly in the ongoing case against Tornado Cash’s co-founder, Roman Storm. Prosecutors are adamant that Storm’s operations went beyond the boundaries of free speech and involved serious criminal activities, including operating without a necessary license and breaching OFAC sanctions.
These developments raise crucial questions about the future of cryptocurrency regulations and the balance between innovation and security. The crypto community remains highly alert as the legal proceedings against Tornado Cash continue.