Two months after the hacking of the AscendEx (formerly Bitmax) exchange, anonymous hackers transferred ether worth about $1.5 million to Uniswap. This is the first attempt by hackers to launder money.
AscendEx Hack
As we reported in mid-December, the AscendEx exchange (formerly Bitmax) fell victim to hackers. Early estimates showed that the total amount stolen was equivalent to about $80 million in ETH, BNB, and MATIC.
Addresses that received funds were immediately blacklisted. Since then, the funds have not been transferred even once.
However, blockchain security company PeckShield has detected activity at one of the addresses. According to him, the hackers sent about $1.5 million in ETH to Uniswap, and this is the first attempt to launder these funds.
Uniswap, as a decentralized exchange, does not have any KYC requirements. This means that perpetrators can mix their coins and send them to new addresses without the risk of being tracked.
AscendEx hackers have scooped up quite a lot of loot. They attacked hot wallets from the Ethereum, BSC (Binance Smart Chain) and Polygon networks.
Most digital assets were stolen in the form of ERC20 tokens, and they were worth about $60 million. The remaining $9.2 million was looted in BSC tokens and $8.5 million in Polygon. In total, the losses amounted to approximately USD 77 million.
After the incident, the exchange established contact with relevant law enforcement agencies and companies specializing in cybercrimes.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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