Flare Token Attackers Heist 56,200 BNB to Tornado Cash In Recent Transfer

In a recent development, attackers of Flare token have managed to transfer 56,200 BNB, which is approximately worth $13.95 million, to Tornado Cash.

Flare Token Attackers Heist 56,200 BNB to Tornado Cash In Recent Transfer

In a recent development, the attackers embarked on their actions starting in November 2022, successfully extracting an astonishing 3.98 billion Flares from specific addresses beginning with 0xf99c. They subsequently proceeded to exchange around 1 billion of the stolen Flares for 16.9 million BSC-USD.

Moreover, they converted 1.98 billion Flares into 32.7 million Futures, which were later swapped for 1.6 million BUSD. A portion of the stablecoins was further exchanged for 2431.14 ETH, facilitating the transfer of funds to both the Ethereum network (1939 ETH) and the Avalanche chain (399.8 WETH) through cBridge and Multichain. To obscure their activities, the attackers employed a technique known as chain-hopping, utilizing mixers and centralized exchanges to launder the funds.

In the past, security companies identified the Flare token as an exit scam, where the scammers allegedly made a profit of approximately $18.5 million at that time. It’s crucial to clarify that the Flare project on the BSC chain associated with the exit scam should not be confused with tokens or symbols that have similar names. Consequently, following the incident, the FLARE token experienced a substantial decline of more than 95% in its price.

Adding to the complexity of the Flare token attack, there has been a recent transfer of 56,200 BNB to Tornado Cash. This transfer raises concerns about the potential misuse of the funds and the measures taken by the attackers to obscure their activities. Authorities and security organizations are diligently monitoring the situation, aiming to mitigate any further harm caused by these fraudulent actions.