{"id":92209,"date":"2024-09-04T06:53:23","date_gmt":"2024-09-04T10:53:23","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=92209"},"modified":"2024-09-04T06:53:34","modified_gmt":"2024-09-04T10:53:34","slug":"penpie-hacker-moves-funds-via-tornado-cash","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/penpie-hacker-moves-funds-via-tornado-cash\/","title":{"rendered":"Penpie Hacker Moves 7M of Stolen Funds Via Tornado Cash"},"content":{"rendered":"\n

Within approximately twelve hours of stealing $27 million on September 3, the hacker responsible for the Penpie protocol<\/a> transfers roughly $7 million of stolen funds through the crypto mixer Tornado Cash.<\/p>\n\n\n\n

\"Penpie
Penpie Hacker Moves 7M of Stolen Funds Via Tornado Cash<\/figcaption><\/figure>\n\n\n\n

The intruder transferred 26% of the hacked funds to a Tornado Cash address on September 4, according to Web3 security firm Cyvers.<\/p>\n\n\n\n

\n

\ud83d\udea8ALERT\ud83d\udea8@Penpiexyz_io\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> exploiter has deposited around $7M to @TornadoCash<\/use><\/svg><\/span><\/a> at https:\/\/t.co\/f17YcJ6blH<\/use><\/svg><\/span><\/a>

Want to keep your company off our alerts radar? Learn how to secure your assets: Book a Demo \ud83d\ude80 https:\/\/t.co\/uUbFkFTp4h<\/use><\/svg><\/span><\/a>#CyversAlert<\/use><\/svg><\/span><\/a> https:\/\/t.co\/zFX85sK9A9<\/use><\/svg><\/span><\/a> pic.twitter.com\/J20g3HS2T0<\/use><\/svg><\/span><\/a><\/p>— \ud83d\udea8 Cyvers Alerts \ud83d\udea8 (@CyversAlerts) September 4, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

The hacker's address is continuously laundering the stolen funds through numerous transactions to Tornado Cash<\/use><\/svg><\/span><\/a> addresses, per blockchain security firm PeckShield.<\/p>\n\n\n\n

As a result of the $27 million breach, the Penpie protocol has suspended all deposits and withdrawals.<\/p>\n\n\n\n

“The attacker deployed the initial contract for the attack at 1745 UTC,” Pendle stated in an X post on September 4.<\/p>\n\n\n\n

Wi-Fi protocol Pendle stated that it contacted security specialists Seal 911 to prevent any subsequent linked attacks.<\/p>\n\n\n\n

The suspension of all contracts on Pendle prevented additional attempts to siphon assets from Penpie, thereby protecting $105M that the attacker could have potentially taken.<\/p>\n\n\n\n

\n

\u201cAt 0050 UTC, after rigorous checks and coordination with all relevant parties to confirm step 1 and 2, Pendle contracts were safely unpaused, and normal operations resumed.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Crypto Losses resulting from cyberattacks <\/h2>\n\n\n\n

An Immunfi report from August 29 indicated that over $1.2 billion in funds had been stolen through breaches and exploits thus far this year, a 15.5% increase from the same period in 2023 when losses stood at slightly over $1 billion.<\/p>\n\n\n\n

The United States Federal Bureau of Investigation (FBI) issued a warning on September 3 against North Korean cyber criminals<\/a> targeting employees at decentralized finance and cryptocurrency firms to steal funds through “complex and elaborate” social engineering campaigns.<\/p>\n\n\n\n

PeckShield, a security firm, reported on September 1 that financial losses from breaches in August 2024 exceeded $313 million. <\/p>\n\n\n\n

The theft of approximately $238 million in Bitcoin resulted from two of the most significant attacks during the month.<\/p>\n","protected":false},"excerpt":{"rendered":"

Within approximately twelve hours of stealing $27 million on September 3, the hacker responsible for the Penpie protocol transfers roughly $7 million of stolen funds through the crypto mixer Tornado Cash. The intruder transferred 26% of the hacked funds to a Tornado Cash address on September 4, according to Web3 security firm Cyvers. The hacker’s […]<\/p>\n","protected":false},"author":12,"featured_media":92213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[2118,21629,10782],"class_list":["post-92209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hacker","tag-penpie-protocol","tag-tornado-cash-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/PENP.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/92209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=92209"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/92209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/92213"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=92209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=92209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=92209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}