FloorDAO Exploited for 40 $ETH ($65K) – Stolen Funds Funneled to TornadoCash

In a recent turn of events, FloorDAO has fallen victim to a significant exploit, resulting in the loss of approximately 40 Ethereum (ETH), valued at around $65,000. This breach has sent shockwaves through the cryptocurrency community, highlighting the persistent vulnerabilities faced by decentralized finance (DeFi) platforms.

Update: The stolen funds (40 $ETH) have already been transferred to #TornadoCash

— PeckShieldAlert (@PeckShieldAlert) September 5, 2023

The stolen funds, consisting of 40 ETH, were swiftly siphoned away by the attackers and redirected to #TornadoCash, a popular privacy-focused Ethereum mixer. This move is a cause for concern, as it adds an extra layer of obscurity to the stolen funds, making it more challenging to trace and recover them.

This unfortunate incident comes amidst a concerning trend in the crypto space. According to PeckShieldAlert, a prominent blockchain security firm, there have been approximately 20 exploits reported in August 2023, resulting in a staggering total of $17.09 million in losses for various DeFi projects.

Hacks on the rise

As of August 31st, 2023, the blockchain security firm’s data reveals that approximately 2,458.3 ETH and 1,213.5 Binance Coin (BNB) have been transferred into Tornado Cash, further raising concerns about the platform’s role in anonymizing stolen assets.

#PeckShieldAlert ~20 exploits grabbed $17.09M in August 2023.

As of August 31st, 2023, ~2,458.3 $ETH and ~1,213.5 $BNB were transferred into Tornado Cash. pic.twitter.com/43ZQbrZ7El

— PeckShieldAlert (@PeckShieldAlert) August 31, 2023

The FloorDAO exploit serves as a stark reminder of the importance of robust security measures in the DeFi space and the need for constant vigilance against emerging threats.