🔴 Hacker Launders $42.5M From Coinbase Scam, Taunts Investigators
A hacker behind a major Coinbase phishing scam has laundered $42.5 million through THORChain, a cross-chain DeFi protocol. The scam, active since late 2024, tricked over 69,000 users and caused $65 million in losses. After Coinbase rejected a $20 million ransom demand, it offered the same amount as a bounty to catch the attacker.
In a bold move, the hacker mocked blockchain investigator ZachXBT with an on-chain message and parody video. The case highlights growing risks in DeFi, where cross-chain tools make it harder than ever to trace stolen crypto.