✨SUI chain was hacked on the afternoon of May 22. Why did the hacker choose to transfer the stolen funds across to Ethereum?
🩷Answer: It is to take advantage of Ethereum's high liquidity and mature mixing tools (such as Tornado Cash) to effectively obscure the trail of the funds, accelerate money laundering, and facilitate cashing out.
🩷Tornado Cash is a well-known privacy protection protocol (mixer) on Ethereum that allows users to make anonymous transfers through smart contracts, severing the connection between the source and destination of the funds. It aims to enhance the privacy of blockchain transactions but is also widely used by hackers for money laundering.
🩷Users deposit ETH or ERC-20 tokens into the smart contract pool of Tornado Cash and receive a cryptographic receipt (Note). Later, they can withdraw an equivalent amount of funds using a new address with the Note, and the original deposit address cannot be traced through on-chain data. Therefore, it has become a primary target for regulatory scrutiny.
🩷Mainstream cross-chain bridges (such as Multichain, Stargate) provide the best support for the ETH chain, allowing stolen funds to be quickly dispersed across different chains.
