Over $1.5 Million of ETH From the AscendEx Hack Moved to Uniswap
Two months after exploiting the crypto exchange AscendEx (formerly Bitmax), the anonymous hackers have transferred around $1.5 million worth of Ethereum to Uniswap in their first attempts to launder the money.
- CryptoPotato reported in mid-December when the three-year-old digital asset trading platform became the latest victim of a security breach.
- Early estimations showed that the total amount swiped was the equivalent of about $80 million in Ether, Binance Coin, and MATIC.
- The addresses that received the funds were blacklisted immediately, and there was little-to-no movement until today.
- However, the blockchain security company PeckShield highlighted that there’s activity coming from one of the Ethereum addresses.
- More specifically, the hackers sent roughly $1.5 million worth of ETH to Uniswap in their first attempts to launder the funds.
The @AscendEX_Global incident hackers start laundering money. The hackers swapped erc20-token on @Uniswap and aggregated ether to this wallet :https://t.co/xKV2x9R0bt pic.twitter.com/wfNqthS2Yx
— PeckShieldAlert (@PeckShieldAlert) February 18, 2022
- Being a decentralized exchange, Uniswap doesn’t have any KYC requirements, meaning that the perpetrators can mix their coins and send them to new addresses without being traced.
- After the hack, AscendEx suspended all withdrawals and deposits for security reasons, and it took the exchange a little over a week to resume all services.
