- Hackers use Twister Money to cover $36.9 million in stolen Ethereum, elevating cash laundering considerations.
- OKX banned Twister Money to adjust to laws amid rising considerations over cryptocurrency laundering.
- Regardless of the cash laundering challenges, Ethereum’s worth elevated by 10.28%, demonstrating market resilience.
In a current improvement, blockchain safety agency PeckShieldAlert reported {that a} hacker-labelled tackle linked to cryptocurrency trade Rain despatched 721 Ethereum (ETH), value about $1.7 million, to cryptocurrency mixing service Twister Money. The incident has raised considerations about using mixers to probably launder stolen funds.
Following the Rain trade incident, one other vital exercise linked to the Nomad Bridge exploit was reported. The exploit transferred 14,500 ETH, value roughly $35.2 million, to Twister Money. These transactions spotlight the widespread use of blending providers to hide the origins of huge quantities of crypto belongings, complicating efforts to hint and get well stolen funds.
The usage of providers like Twister Money, which make it troublesome to hint the supply of funds, has alarmed the crypto group and regulators around the globe. This elevated scrutiny has led to extra authorized motion, as exemplified by the arrest and denial of bail within the Netherlands of Twister Money developer Alexey Pertsev. Pertsev has been incarcerated for greater than 5 years, highlighting the robust regulatory challenges dealing with operators of cryptocurrency mixing providers.
In response to those safety considerations, main cryptocurrency trade OKX has taken agency motion towards using mixers. OKX CEO Star introduced the ban of accounts utilizing Twister Money on his personal X account. The transfer is meant to adjust to world regulatory requirements and strengthen the platform's safety towards cash laundering actions.
Regardless of safety and regulatory challenges, Ethereum’s market capitalization stays excessive. On the time of writing, the worth of Ethereum is $2,669.44, up 10.28% previously 24 hours.
Ethereum continues to play a key position available in the market with a reside market cap of over $321 billion. Presently, Ethereum holds the second place on CoinMarketCap with a reside market cap of $321 billion and a 24-hour buying and selling quantity of $23.1 billion. Ethereum has a circulating provide of 120.2 million ETH cash.
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