CertiK Report: Two IDR 16.2 Billion Transfer Wallets In Ether Form To Tornado Cash From CoinStatus Exploitation

Two transfer wallets of IDR 16.2 billion in the form of Ether to Tornado Cash (Photo; Doc. Vuongchihung)

JAKARTA - The latest news in the blockchain security world reveals that nearly 1 million US Dollars (approximately IDR 16.2 billion) in Ether have been transferred to Tornado Cash from the exploitation of CoinStats. The blockchain security firm, CertiK, marks two wallets linked to this exploit that recently transferred a total of 311 ETH to the controversial crypto protocol.

According to a CertiK report, two wallets involved in the CoinStats exploit last June moved 311 ETH, valued at about US$959,000 (equivalent to Rp15.5 billion), to Tornado Cash. One wallet moved 211 ETH, while the other wallet transferred 100 ETH to the cryptocurrency mixing service.

According to Crypto Potato information, the exploit began on June 22 when CoinStats reported a security breach affecting iOS users receiving misleading notifications offering gifts.

The company quickly suspended its app to contain the breach and confirmed that the attack had been managed, affecting only 1.3% of their total wallet, which was 1,590 wallets. CoinStasis also assured users that connected wallets and centralized exchanges (CEX) remain safe.

Despite facing significant legal challenges and crackdowns, Tornado Cash continues to be widely used to launder stolen funds. In August 2022, the US Treasury Department blacklisted the service, banning its use by US citizens, residents, and companies. The project's web domain and GitHub account were closed.

That same month, Tornado Cash developer Alexey Pertsev was arrested in Amsterdam on suspicion of involvement in hiding criminal financial flows and facilitating money laundering through Ethereum mixing services. Pertsev was sentenced to 5 years and 4 months in prison last May.

A few months later, two other Tornado developers, Roman Storm and Roman Semenov, were charged with helping money laundering of 1 billion US Dollars (approximately IDR 16.2 trillion). Storm was arrested in Washington State.