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Finance

Hackers Behind AscendEX Breach Move $1.5M Ether to Uniswap

Security research firm PeckShield points to on-chain data that shows 516 ether is on the move

By Sam Reynolds
AccessTimeIconFeb 18, 2022 at 10:26 a.m. UTC
Updated May 9, 2023 at 3:38 a.m. UTC
(Natasa Adzic/Shutterstock)
(Natasa Adzic/Shutterstock)

Funds stolen during December’s hack of AscendEX have begun moving to decentralized exchange Uniswap, according to on-chain data first spotted by security research house PeckShield.

  • In December, hackers stole $77 million from AscendEX, mostly in ether, Binance Smart Chain's token and MATIC.
  • So far 516 ether (ETH), worth around $1.5 million, have been sent to Uniswap.
  • Until recently, the funds have stayed largely dormant, before beginning to move early Friday morning U.S. time.
  • While many high-profile hacks have seen the funds being sent through a mixer protocol like Tornado Cash, sending the tokens to Uniswap would largely have the same effect.
  • Uniswap doesn’t have a know-your-customer mechanism, thus tokens that go in would be mixed around with other tokens making them “clean” to the outside observer.
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