🚨 The Drift hacker laundered $122 million in ETH over two days. Arkham says it’s the largest amount hackers have sent to Tornado Cash in a single instance in nearly two years!
📌 Facts (Sources: Arkham, Lookonchain, Cointelegraph)
• On October 20–21, 520 transfers sent about $122.3M worth of ETH into Tornado Cash
• After two months of inactivity, the funds suddenly started moving again, entering the pool in batches of 100 ETH
• About $295M was stolen in April, and nearly 40% has been laundered in just two days
• About 56,569 ETH (roughly $139M) remains in the address
🧠 My take
1️⃣ Mixing is only the first step. The real risk is what comes next: “cash out → sell off.” The remaining 56,000 ETH is potential selling pressure hanging over the market.
2️⃣ ETH is currently around $2,400 and BTC around $82,000. Risk appetite is already weak, so on-chain news can easily be amplified.
3️⃣ The biggest lesson for DeFi: being hacked isn’t the end of the story, and recovery often amounts to just pennies on the dollar.
⚠️ Watch: Can ETH hold $2,400? Do funds show up at exchange deposit addresses after mixing?
Do you think this money will eventually hit the market, or just sit there? Share your thoughts in the comments 👇
$ETH $BTC
#Drift #TornadoCash #On-chain data
Just my personal opinion; not investment advice
📌 Facts (Sources: Arkham, Lookonchain, Cointelegraph)
• On October 20–21, 520 transfers sent about $122.3M worth of ETH into Tornado Cash
• After two months of inactivity, the funds suddenly started moving again, entering the pool in batches of 100 ETH
• About $295M was stolen in April, and nearly 40% has been laundered in just two days
• About 56,569 ETH (roughly $139M) remains in the address
🧠 My take
1️⃣ Mixing is only the first step. The real risk is what comes next: “cash out → sell off.” The remaining 56,000 ETH is potential selling pressure hanging over the market.
2️⃣ ETH is currently around $2,400 and BTC around $82,000. Risk appetite is already weak, so on-chain news can easily be amplified.
3️⃣ The biggest lesson for DeFi: being hacked isn’t the end of the story, and recovery often amounts to just pennies on the dollar.
⚠️ Watch: Can ETH hold $2,400? Do funds show up at exchange deposit addresses after mixing?
Do you think this money will eventually hit the market, or just sit there? Share your thoughts in the comments 👇
$ETH $BTC
#Drift #TornadoCash #On-chain data
Just my personal opinion; not investment advice