Pando Rings hacker moves 4,000 ETH through Tornado Cash after 4 years – Details

Four years after the 2022 Pando Rings exploit, the attacker is once again using Tornado Cash to launder the stolen funds. The wallet first converted approximately $16.98 million in Dai [DAI] to 7,548 Ethereum [ETH] and began dividing the assets into multiple small transfers. Multiple transactions were found showing a series of 100 ETH deposits, each worth approximately $229,000. To move their funds, the attacker initially used Aave [AAVE] to convert stablecoin holdings to ETH before sending them through Tornado Cash. At the end of October, the attacker supplied 16.8 million USDT as collateral to borrow 5,000 ETH and repay the loan. After repaying the loan, the attacker withdrew the collateral and exchanged 16.7 million DAI for 7,548 ETH.

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