Bitcoin

BunnyFinance Exploiter Cleans $4M in ETH with Tornado Cash After 3 Years of Silence

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The BunnyFinance exploiter, dormant for three years, has resurfaced, laundering 1,500 ETH—approximately $4 million—using the cryptocurrency mixing service Tornado Cash in the past 48 hours.

Web3 security platform PeckShieldAlert reported, “The BunnyFinance exploiter has cleaned 1.5K $ETH (worth ~$4m) through Tornado Cash in the last 48 hours.” This activity raises potential security concerns and instability for BunnyFinance and its associated assets.

Mist Track, another anti-money laundering platform, noted in August that the Bunny Finance exploiter had reactivated after a prolonged dormancy period. “Does anyone remember the Bunny Finance exploiter? Looks like they’re active again after almost 3 years!!! 🕵️‍♂️,” tweeted MistTrack.

In a related analysis, MistTrack observed, “It might be a coincidence, but both the Bunny Finance and Nomad Bridge exploiters capitalized on the recent market downturn. They swapped nearly $40 million DAI for approximately 17,000 ETH following a similar pattern, with an average price of $2400. Currently, 2400 ETH has already been transferred to Tornado Cash, with the remainder likely to follow soon.”

The breaches of Nomad Bridge and the Bunny Finance exploit both leveraged a dip in ETH prices around August 5, 2024, to exchange DAI for ETH.

In May 2021, PancakeBunny suffered a massive exploit, resulting in Bunny Finance hackers fleeing with over $200 million in cryptocurrency assets.


Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.


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