A hacker who exploited vulnerabilities in the Cetus Protocol’s smart contract to drain $223 million worth of SUI tokens has already moved nearly a third of the stolen funds to Ethereum.
The stolen funds were converted to USDC before being bridged to Ethereum and exchanged for ETH, according to blockchain analyst Lookonchain.
Ethereum is the only chain with large enough mixers, like Tornado Cash and Thorchain, to launder stolen funds measured in the hundreds of millions of dollars.
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