Event Overview
According to recent market reports, the flow of stolen funds from the Saga platform hack has been identified. The hacker transferred approximately $6.2 million worth of cryptocurrency to five separate wallet addresses before ultimately moving the funds into Tornado Cash through multiple transactions.
Fund Transfer Method
Initial analysis indicates that the stolen funds were not directly moved into mixing services. Instead, the hacker first dispersed the funds across five intermediary addresses. This approach is commonly used to minimize risk and evade detection by monitoring systems.
Technical Breakdown
- Hacker initially transferred funds to five intermediate addresses
- Conducted multiple smaller transactions to further obfuscate the trail
- Finally moved the funds into Tornado Cash for laundering
This process demonstrates the attacker's understanding of blockchain tracking mechanisms and their ability to avoid detection.
Industry Impact
This incident serves as a reminder for blockchain platforms to enhance their security measures. It also highlights the potential role of mixing services in cryptocurrency-related crimes, likely prompting regulators to take a closer look at such platforms.