The Kyber Network, known for its multi-chain liquidity protocols, recently fell victim to a hacker who managed to steal $1.65 million in Ethereum (ETH). This stolen amount was then laundered using Tornado Cash, an Ethereum mixing protocol.
Due to its frequent use by scammers and hackers, Tornado Cash has become a significant concern for global regulators. It enables the mixing of transactions, making it difficult to trace the origins of funds.
PeckShield, a prominent blockchain analysis platform, was the first to report this incident, drawing attention to the common exploitation method used in the security breach of the Kyber Network.
