Raydium exploiter used sanctioned crypto mixer Tornado Cash to transfer around 1,775 ETH.
The hacker behind the decentralized finance (DeFi) protocol, Raydium, exploit has reportedly moved a large amount of crypto to sanctioned crypto mixer Tornado Cash.
According to the blockchain security firm CertiK that alerted the community on January 19th, the exploiter transferred around 1,774.5 Ether (ETH), worth approximately $2.7 million.
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The decentralized finance protocol was attacked on December 16th.
After the exploit, Raydium developers revealed that the hacker gained access to the exchange owner’s account and drained the funds in various cryptocurrencies, including USD Coin (USDC), Tether (USDT), Solana (SOL), etc. In total, the hacker stole around $4,4 million worth of crypto.
At the beginning of January, Raydium shared an update on compensation plans and the next steps for the company.
In the blog post, Raydium revealed that it used assets held in the treasury to “obtain the vast majority of assets that were affected during the exploit.” According to Raydium, obtained assets are used to “restore losses to users that had liquidity positions in affected pools at the time of the incident.”
The company noted that it is set to distribute assets in two phases as an added security measure.
In the first phase, claims are available to customers who have “individual liquidity positions on Raydium.”
Specifically, this means individual liquidity providers (LP) that have LP-ed or staked in a farm on Raydium directly.
The first phase opened on January 5th and will remain open until March 5th, 2023. During the first phase, customers can obtain claims for seven pairs: SOL-USDC, RAY-USDC, RAY-SOL, RAY-USDT, SOL-USDT, stSOL - USDC, and whETH-USDC.
Based on the blog post, during the second phase, Raydium will open claims for third-party protocol “Owners.” At that time, Raydium stated that it aims to provide further details about the second phase “in the coming days.”
