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Kronos Research hacker moves $3.7M to Tornado Cash after Ethereum price surge

The hacker responsible for the Kronos exploit has moved a significant portion of the stolen Ethereum (ETH) to Tornado Cash, a privacy-focused cryptocurrency mixing service. This action is raising concerns within the crypto community about the difficulties in tracking and recovering the stolen assets.

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The hacker responsible for the Kronos exploit has moved a significant portion of the stolen Ethereum (ETH) to Tornado Cash, a privacy-focused cryptocurrency mixing service. This action is raising concerns within the crypto community about the difficulties in tracking and recovering the stolen assets.

According to blockchain analysis, the hacker transferred approximately 400 ETH, valued at around $600,000, to Tornado Cash. This service enables users to obfuscate the origins of their cryptocurrency, making it challenging for authorities and blockchain analysts to trace the funds.

The Kronos exploit, which occurred last month, resulted in the theft of over $1 million in Ethereum. The hacker’s latest move to use Tornado Cash underscores the persistent challenges in securing the crypto ecosystem and recovering stolen funds.

Blockchain security firms have been closely monitoring the hacker’s wallet activities. “The transfer of stolen ETH to Tornado Cash complicates our efforts to trace and recover the funds. It highlights the need for enhanced security measures and regulatory oversight in the crypto space,” said a representative from a leading blockchain security firm.

Tornado Cash, while legal and used for legitimate privacy purposes, has often been criticized for its potential misuse by cybercriminals to launder stolen cryptocurrencies. The service mixes transactions in a way that conceals the trail, making it an attractive tool for illicit activities.

The Kronos team has urged the community and exchanges to be vigilant and report any suspicious activities related to the stolen funds. They are also working with law enforcement agencies to track the hacker and recover the assets.

This incident is a stark reminder of the ongoing security risks in the cryptocurrency sector. It underscores the importance of robust security practices and the need for continuous improvement in regulatory frameworks to protect investors and maintain trust in the digital asset market.

In summary, the Kronos hacker’s transfer of stolen ETH to Tornado Cash highlights significant challenges in tracking and recovering stolen cryptocurrencies. This development calls for enhanced security measures and regulatory oversight to safeguard the integrity of the crypto ecosystem.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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