Last year’s attack on AscendEx left the exchange at a $77 million loss, and, apparently, some of the funds were moved to a decentralized crypto exchange. With the hackers still unidentified, the digital addresses associated with AscendEx, previously known as Bitmax, have seen some activity. On February 18th, the real-time blockchain alert system PeckShield announced that the hackers of the AscendEx incident “started laundering money.”
Based on the screenshot from Etherscan, $1.5 million worth of ETH got moved in a matter of hours. The addresses were earlier flagged by the crypto exchange, and have only seen any movement until today. Did you know? Want to get smarter & wealthier with crypto? Subscribe – We publish new crypto explainer videos every week!
DeFi platforms like Tornado Cash or, in this case, Uniswap have no identification requirements for users to deposit or withdraw funds. Therefore, the portion of the funds that were transferred to the decentralized network is practically in the hands of the hackers.
While there’s no clue whether they’ll try to launder more funds from the hack, AscendEx has seemingly bounced back from the hack, and has reportedly offered affected users reimbursement for their lost funds. by Dom Z. – Crypto Analyst, BitDegree