Slope Wallet hacker bridged funds to TRON, cashed out through OTCs
Blockchain sleuth ZachXBT says Slope Pockets founder Leal Cheung created a brand new undertaking instantly after the hack.
Victims of Slope Pockets hack, which suffered a $4 million loss in August 2022, are “unlikely” to see something returned provided that the workforce behind the undertaking took no duty.
A widely known blockchain investigator ZachXBT wrote in an X thread on Oct. 11, that the hacker efficiently transferred the stolen crypto from Solana to Ethereum via “Binance nested exchanges.” Later, the dangerous actor laundered the funds via Twister Money, a sanctioned crypto mixer constructed on the Ethereum blockchain.
Making an attempt to cowl up the traces, the hacker bridged the laundered crypto between Ethereum and TRON utilizing SWFT, a cross-chain bridge. Though it’s unclear if the cybercriminal transferred all the stolen funds from the Solana community, ZachXBT says the laundered funds are finally settled on the TRON community within the type of the USDT stablecoin via a number of “lively addresses with prior USDT transaction historical past.”
“Usually most of these addresses are small companies/OTCs used to money out funds P2P.”
ZachXBT, crypto investigator
The blockchain investigator additionally urged customers to keep away from interactions with zkME, a brand new crypto startup supposedly created by the Slope Pockets founder Leal Cheung, who abruptly left his earlier undertaking after the hack.
Slope Pockets gave the impression to be the important thing supply of a hack by which customers misplaced thousands and thousands of {dollars} in crypto. As crypto.information reported, Slope Pockets allegedly logged consumer seed phrases on centralized servers, which finally had been compromised.
Shortly after the hack, Slope issued its assertion, acknowledging the incident. Nevertheless, the Slope workforce didn’t element what occurred, nor has the corporate accepted duty for the assaults to date.
