Wallet Linked to Nomad Bridge Hack Transfers $36M of Ether to Tornado Cash
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 08 2024
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Source: Yahoo Finance
Nomad Bridge Hack: A wallet linked to the $200 million hack of the Nomad cross-chain bridge in 2022 transferred $35.5 million worth of ether to Tornado Cash after being funded with $39.85 million in DAI stablecoin, highlighting ongoing security concerns in crypto bridges.
Tornado Cash Usage: The funds were anonymized through Tornado Cash, a service sanctioned by the U.S. Treasury for its role in obscuring transaction origins, emphasizing the challenges in tracking illicit activities in cryptocurrency transactions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
