The chain of funds associated with the theft of the Coinbase user has changed again in recent days. According to the chain investigator VAL, the address involved converted part of the funds to ETH the previous day and transferred them to Tornado Cash. Three weeks ago, a larger group of funds was also pointed to the same path.
Cumulative losses over $300 million
The chain investigators, including ZachXBT, previously estimated that the cumulative losses in this case had exceeded $300 million. Reports also indicate that tens of millions of dollars of assets remain in the wallets associated with the threat, which means that new transfers may follow.
The transfer was of concern because the funds were not static for a long time, but rather continued to be split, converted and transferred to the monetization tool. Such operations often make follow-up more difficult and the flow of funds to victims more difficult to identify.
Partial funds converted to ETH
The most recent disclosure indicated that the address involved changed a portion of the asset to ETH and sent it to Tornado Cash. The original text did not disclose the specific amount of the transfer, but noted that it was not the first time that a similar operation had taken place.
- A fund was converted to ETH the previous day.
- About three weeks ago, another batch of money went the same way.
- The wallet is still alleged to contain tens of millions of dollars.
Investigators have been provoked in the chain.
The report mentions that the perpetrator of the threat had in the past incorporated a self-defined message into a transaction sent to ZachXBT ' s wallet to provoke a tracking operation. This detail indicates that the counterparty not only continues to transfer assets but is also responding proactively to outside investigations.
Currently, the public information comes mainly from the results of the chain of investigators. It was disclosed that the funds involved were still in the chain and that some of the assets were continuing to flow through ETH and Tornado Cash.