Hacker buys Ethereum with stolen crypto money

Yesterday, Aug. 5, a hacker bought nearly 17,000 ETH with stolen money linked to the 2022 Nomad-Bridge attack. According to data from analysis company Lookonchain, the unknown attacker used a total of 38.75 million DAI for the purchase. The stablecoin tracks the value of the U.S. dollar.

Shortly after the purchase, the hacker sent the 17,000 Ether - worth $38.4 million at the time - to the crypto-mixer Tornado Cash. This is supposed to reduce the transparency of stolen crypto money. The U.S. Department of Justice banned the mixing service in 2022, but Tornado Cash is still being used. It actually increased in volume in 2023 and 2024.

The Ethereum share price is suffering from the current market situation; on a daily basis, the second-largest crypto currency has lost 22 percent. Over the past seven days, there has been a price loss of about 32 percent.

Nomad is a cross-chain communication protocol that allows, among other things, bridging tokens between Ethereum and other chains. In August 2022, the until now unknown hacker stole more than $200 million in cryptocurrency.