Uranium Finance hacker executes $2.5m BUSD transfer to Ethereum

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The Uranium Finance attacker has transferred 2.5 million BUSD from the BNB chain to Ethereum (ETH) utilizing Li.fi.

On Jan. 22, On-chain analytics platform PeckShield Alert reported the switch of two.5 million BUSD from the BNB Chain to Ethereum, leveraging the Li.fi protocol, a DEX aggregator. This motion concerned the conversion of property to 812 ETH and roughly $500,000 in stablecoins.

Originating from the infamous Uranium Finance hack in April 2021, the first handle related to the incident transferred a complete of $3.1 million in BUSD to Ethereum. Peck Defend’s preliminary report indicated the motion of $10,000 BUSD through Stargate, a cross-chain bridging protocol. Additional monitoring revealed further transfers totaling 3.1 million BUSD.

The attacker’s technique concerned distributing 500,000 BUSD throughout six transactions and 100,000 BUSD in one other. The batch of transactions, executed inside an hour, sparked discussions within the crypto group.

The exploiter’s BNB Chain handle held over $15 million in property, comprising BUSD and Wrapped BNB (WBNB). On the time of writing, the wallet was utterly drained.

Moreover, the Ethereum handle of the exploiter boasted holdings of 824 Ether, valued at $1.3 million on the time, together with smaller quantities of USDC and USDT. Notably, quickly after the BUSD switch to Ethereum, 1,200 ETH (valued at $1.89 million) have been moved to Twister Money, a cryptocurrency mixer. This was executed by way of 12 transactions of 100 ETH every.

These actions aligned with a sample noticed all year long, together with a number of transfers to Tornado Cash within the previous months. The primary of those occurred in March, involving a distinct handle to maneuver 2,250 ETH to the mixer. In whole, the exploiter extracted $50 million in crypto property by exploiting a flaw within the pair contracts of the protocol.

On a associated observe, 2024 has witnessed elevated illicit cryptocurrency activities. A notable phishing assault, reported by Rip-off Sniffer, resulted in a $4.20 million loss for the sufferer. The rip-off exploited ERC20 Allow signatures, permitting scammers entry to the sufferer’s property.

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