Nomad bridge and PancakeBunny hackers are shopping for ETH.
Hackers who exploited the Nomad cross-chain bridge to steal $200 million, leveraged the cryptocurrency market crash to buy ETH.
In keeping with knowledge from on-chain analytics agency Lookonchain, the Nomad bridge exploiter spent $39.75 million in DAI stablecoin to accumulate 16,892 ETH.
On Monday, Ethereum’s value plunged by 20% to fall beneath $2,300 — a degree final seen in February. The worldwide cryptocurrency market capitalization was down 17% within the final 24 hours, to $1.79 trillion.
Blockchain safety agency PeckShield shed extra gentle on the exploit, revealing that the hackers have already transferred about 2,400 ETH (price roughly $7 million) to Twister.Money, a service that obscures the supply of funds by mixing cryptocurrencies.
On Aug. 2, 2022, hackers breached the Nomad cross-chain bridge, stealing round $200 million. Paradigm researcher Sam CZ Solar had defined on X that the breach resulted from a flaw within the bridge’s sensible contract. This vulnerability led hackers to systematically drain the bridge’s funds throughout a number of transactions.
PeckShield additionally reported that different exploiters had been seen transferring funds.
“Our community contributor detected that the PancakeBunny exploiter-labeled address aped into $ETH when the market dropped, swapping 7.8M $DAI for 2.922K $ETH,” the safety agency tweeted.
On Might 19, 2021, PancakeBunny’s Bunny Protocol fell sufferer to a flash mortgage assault, leading to a $45 million exploit.
