This breach and subsequent laundering activity highlight the ongoing risks faced by centralized exchanges, even those with robust security measures.
The hacker behind the recent attack on the Rain crypto exchange has begun laundering stolen Ether through Tornado Cash, a popular mixing service. Blockchain security firm PeckShield, which has been closely monitoring the situation, flagged the move.
PeckShield’s latest update reveals that the attacker transferred 1,155 Ether (ETH), worth approximately $2.9 million, to Tornado Cash. This transaction appears to be part of a larger effort to obscure the origins of the funds and make them more difficult to trace.
The Rain cryptocurrency exchange is based in Bahrain and specializes in serving clients from Southwest Asia and the Middle East. The exchange was exploited on April 29, with approximately $14.1 million worth of various cryptocurrencies transferred to a new wallet under suspicious circumstances, including Bitcoin (BTC), Ether, Solana (SOL) and XRP (XRP).
