Liquid Exchange Extortionist Takes Precaution by Transmitting $20M to ETH Mixer
The individual responsible for hacking Liquid, the Japanese crypto exchange, has been taking precautions to ensure that there aren’t any traces left of his activity.
Based on the latest reports from public blockchain data, he managed to get away with crypto worth $90 million.
Nonetheless, two different crypto exchanges informed CoinDesk that they’d frozen money suspected to belong to the extortionist.
Liquid revealed their security breach on Thursday through a tweet, highlighting a number of wallets that it suspects the robbers used to siphon out ether, bitcoin, XRP, TRON, and several ERC20 tokens.
Shortly after, Liquid unveiled several other crypto addresses, which have been linked to the hacker.
Liquid followed this up by impeding withdrawals as well as filing a report of suspicious transactions with the Monetary Authority of Singapore (MAS). MAS serves as the nation’s financial regulator.
This hack is definitely among the top scandals that have happened in the crypto world recently. But in the grand scheme of things, it cannot be compared to the $146 million hack that hit Italian exchange BitGrail last year.
Neither does it match up to the $500 million hack that hit Coincheck, the Tokyo-based exchange, back in 2018.
CoinDesk recently gave an update on the Liquid hack. It stated that about 6,000 ETH, equivalent to $19.7 million, which had been stolen from the crypto exchange, was sent to Tornado.cash. But from then on, no other traces can be made.
Etherscan, on its part, believes that the thieves likely used Uniswap along with other decentralized exchanges (DEXs) to put the stolen ERC20 tokens into liquidation. According to Etherscan, the extortionist has managed to retain some 9,319 ETH ($30 million) worth of crypto in his wallet.