Blockchain security firm CertiK issued a warning revealing that an exploiter of the Raydium protocol had contributed 1,774.5 ether (ETH) to the mixer.

At the time of writing this article, the sum was worth around $2.7 million.

While security teams at various exchanges continue to fight hacker attempts, money continues to flow into licensed cryptocurrency mixer Tornado Cash. [Cryptocurrency] On December 16, 2022, an attack was launched against the decentralized finance (DeFi) system that was based on Solana.

The developers claim that the hackers gained control of the account belonging to the exchange owner and stole the cash from the liquidity provider, which consisted of a variety of digital assets such as USD Coin (USDC), Wrapped Solana (wSOL) and Raydium (RAY) .

Upon first examination, the DeFi protocol came to the conclusion that the attack was the result of a weakness in the smart contracts used by the decentralized exchange.

Because of this, the administrators were able to withdraw fees from the liquidity pools.

Due to the losses, the Raydium team has also put forward a strategy to compensate the victims of the attacks. The idea is to use the treasury of the decentralized autonomous organization to acquire missing tokens, which would then be used to reimburse the people who were harmed by the exploit.

Chainalysis, a company that specializes in blockchain research, noted in an article published on Jan. 9 that even though the penalties imposed on Tornado Cash had some impact on the mixer, no entity can “go offline.” ” as fast as centralized services.

The fact that your smart contracts can continue to work forever even though your website can be taken down emphasizes the fact that anyone can continue to use it at any time.

While hackers continue to aggressively change cash, their efforts may not always prove successful for them.

Binance and Huobi, two centralized cryptocurrency exchanges, were recently able to identify and seize assets that were placed by hackers working for Harmony One.

Binance CEO Changpeng Zhao said the company’s security team, in collaboration with Huobi’s security team, was able to recover 121 Bitcoin (BTC), which were worth $2.5 million at the time of the incident. .