Tornado Cash Used in $4.5 Million Index Finance Heist

On October 21, Index Finance suffered a major security breach, resulting in the theft of over $4.5 million in digital assets, according to the Cyvers Alerts report. 

The attacker quickly began moving the stolen funds through Tornado Cash, a decentralized platform known for its anonymity, making it difficult to trace the funds. 

The attacker’s Ethereum address still holds over $5 million in various digital assets spread across multiple wallets.

Source: Twitter

In a concerning trend, cybersecurity incidents in the crypto space continue to rise. Today, Transak, a cryptocurrency on-ramp used by platforms like Metamask, Binance, and Trust Wallet, revealed it had experienced a security breach . The attack affected approximately 1.14% of its users or around 92,554 individuals.

Adding to the alarming surge in cyber threats, blockchain security firm Scam Sniffer reported a phishing scheme targeting Sony’s blockchain project, Soneium. The October 22 report highlighted a malicious Google ad for “someium,” leading unsuspecting users to a fake website designed to drain their crypto wallets.

These incidents underscore the growing vulnerability in the crypto sector, as attackers increasingly target high-profile platforms and projects.