A post by @PeckShieldAlert on X.
#PeckShieldAlert The address labeled as #PandoRings Exploiter supplied 16.8M $USDT to Aave, borrowed…
@PeckShieldAlert on X
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The address labeled as the Pando Rings exploiter moved funds on October 30, supplying 16.8M USDT to Aave, borrowing 5,000 ETH, then repaying the debt and withdrawing the collateral before swapping 16.7M DAI for 7,548 ETH and depositing 4,000 ETH into Tornado Cash. The laundering activity traces back to the November 5, 2022 exploit of the Pando Rings lending protocol on the Fuse chain, in which the attacker manipulated a price oracle vulnerability to steal approximately $20M. The movement of funds through Aave and Tornado Cash signals the exploiter is actively cashing out stolen assets more than two years after the breach. Market watchers should monitor for further Tornado Cash deposits, which could indicate additional laundering waves from the remaining stolen funds.
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Named in this story
Pando Rings, Aave (AAVE), Tornado Cash, USDT, ETH (ETH)
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