Victim Defrauded of $50M USDT Laundered via Tornado Cash

Major Crypto Fraud Incident: A crypto investor lost $50 million in USDT after mistakenly sending funds to a poisoned address, which was quickly converted into DAI and then into ETH, with the hacker using Tornado Cash to obscure the transaction trail.

Recent Attacks on Crypto Foundations: The 0G Foundation reported a targeted attack that resulted in the theft of tokens and ETH, exploiting a vulnerability in their emergency withdrawal contract, while also highlighting the increasing trend of attacks on personal wallets.

Rising Cryptocurrency Theft Statistics: Cryptocurrency thefts reached over $3.41 billion in 2025, with a significant portion attributed to hacks on personal wallets, which have surged from 7.3% of total stolen value in 2022 to 44% in 2024.

Impact of Major Hacks: The Bybit exchange hack accounted for 44% of the total annual crypto thefts, indicating that a small number of significant breaches are responsible for a large portion of losses in the cryptocurrency space.