Steadefi Hacker Channels 100 ETH, Valued at $185K, into TornadoCash

Crypto News– CertiK Alert, a renowned platform that tracks crypto hacks, scams, and flash loan incidents, has detected a series of transactions associated with the recent Steadefi exploit. As per CertiK Alert’s findings, an Externally Owned Account (EOA) has injected 100 ETH valued at nearly $185,000 into the TornadoCash protocol. Notably, this identified EOA still holds 424 ETH, equivalent to approximately $786,000, even subsequent to depositing funds into TornadoCash.

Steadefi Hacker Channels 100 ETH, Valued at $185K, into TornadoCash

Steadefi, a decentralized finance (DeFi) platform, reportedly fell victim to a hack on Monday, August 7, 2023. This breach led to a significant loss of at least $1.14 million, amplifying the risk associated with all assets held in their vault.

In response to the security breach, Steadefi initiated an on-chain communication with the hackers’ wallet address, proposing a 10% bounty on the stolen funds in a bid for negotiation. In a public statement, Steadefi conveyed its willingness to discontinue further pursuit and refrain from involving law enforcement entities if the hackers acknowledged and fulfilled the bounty offered by 0800 UTC on Thursday, August 10, 2023.

Steadefi further pledged to extend this bounty opportunity to the general public should the hackers fail to cooperate before the stipulated deadline. By prolonging the offer, any individual who successfully identifies and aids in the conviction of the hackers through legal proceedings would become eligible for the bounty.