M2 Exchange Hacker Money launders 12.8M Ethereum through Tornado Cash

The post M2 Exchange Hacker Money launders 12.8M Ethereum through Tornado Cash appeared first on Coinpedia Fintech News

On the 31st of October, M2 Exchange incurred a security loss resulting in the trading platform losing about $14 million in cryptocurrency. Since being labeled by the exploiter, the address has brilliantly washed 4,010 ETH, equivalent to approximately $12.8 million through Tornado Cash, a common cryptocurrency mixing platform as noted by PeckShield. The laundering move shows that tracing stolen assets in the decentralized finance (DeFi) space remains a challenge next to the fact that mixing services are often employed to blend transactions during the illicit process.