Recent observations from onchain alerts reveal a significant development in the aftermath of the Heco bridge exploitation incident, wherein millions in Ethereum were siphoned off late November 2023. The culprit behind this breach has executed a transfer of 40,391.8 ether to the well-known mixing platform, Tornado Cash.
Insights provided by the onchain analysis firm Peckshield underscore the ongoing activity of the hacker involved in the Heco bridge hack. Over the course of eight days, addresses associated with the perpetrator facilitated the transfer of precisely 40,391.8 ETH to Tornado Cash.
At present market valuations, this amount equates to approximately $137 million. Tornado Cash, specializing in Ethereum transactions, functions as a mixing service designed to obfuscate the trail of onchain transactions.
The breach of the Heco bridge occurred in late November 2023, with a portion of the stolen funds swiftly routed to decentralized exchange (DEX) platforms on the same day as the theft.
This incident has cast a spotlight on the Heco Chain, which maintains connections with HTX, Justin Sun, and the Tron and Bittorrent blockchains. In response to the breach, Sun publicly pledged that HTX would cover any financial losses stemming from the incident.
Prior to this security lapse, the cryptocurrency exchange Poloniex, affiliated with Sun, experienced a significant theft of digital assets amounting to millions. The involvement of the notorious North Korean hacking collective, Lazarus Group, has been suggested in these cyberattacks.
