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Stolen Crypto on the Move! PancakeBunny Hacker Transfers $2.9 Million

In a surprising development, the infamous PancakeBunny exploiter has re-emerged, transferring large sums of money through Tornado Cash. This individual, responsible for a $45 million exploit in May 2021, has recently resumed activity, capturing the attention of the crypto community after years of silence.

On Sunday, the PancakeBunny attacker moved 1,002 ETH, approximately $2.9 million, through Tornado Cash, a platform known for its ability to obscure transaction details. Security firm CertiK Alerts highlighted this transaction, revealing that the funds were transferred from the wallet address 0xd0f2259e0bd71e849143bbc07f4e427bb6f7756b.

A Look Back at the 2021 Exploit

The May 2021 PancakeBunny exploit, which resulted in user losses of around $45 million, was a sophisticated flash loan attack. The attacker manipulated the price of BUNNY tokens using a substantial amount of assets from PancakeSwap.

By inflating the token prices and then dumping them on the market, the attacker drove the value down to nearly zero, pocketing significant profits in the process.

Ongoing Threats and Remaining Funds

Despite transferring a significant portion of the stolen funds, the exploiter still holds $11.4 million in DAI in the wallet address 0x820C. This activity underscores the persistent challenges faced by regulators and security experts in tracing and recovering lost cryptocurrency.

The Role of Tornado Cash

This case highlights the dual-edged nature of Tornado Cash. While it offers privacy protection for legitimate users, it is also a favored tool for cybercriminals to launder stolen funds. The PancakeBunny exploit serves as a stark reminder of the complexities in balancing privacy and security in the crypto space.

Read Also: Notorious Pink Drainer Falls Victim to $30,000 Address Poisoning Scam

One transfer reignites a million-dollar mystery. The PancakeBunny saga continues…

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