Amid growing crypto hacks, a TRON wallet incurred significant losses in a recent exploit. As per the data from the PeckShield on-chain investigator ZachXBT, an anonymous TRON wallet has recently experienced an enormous exploit that has drained $3.1M from it. The crypto investigator revealed this exploit in a recent report.
Exploiter Drains $3.1M from Anonymous TRON Wallet in Exclusive Exploit
As ZachXBT has pointed out, the significant $3.1M exploit of the anonymous TRON wallet has a link to another crucial hack. The crypto investigator has associated this exploit with the hack of Fantom Foundation that took place back in the year 2023. In the latest incident, the exploiter rapidly shifted the stolen funds to Ethereum. In addition to this, they also laundered these assets via Tornado Cash, a privacy-focused crypto mixer.
Crypto Investigator Highlights Link Between Fantom Foundation and TRON Wallet Exploits
In the hack of Fantom Foundation, the exploiters took away a cumulative $7M while targeting the platform’s wallets. Fantom Foundation operates as a considerably scalable blockchain. However, based on ZachXBT’s investigation, the newly hacked unknown TRON wallet is also linked to connected to Fantom Foundation’s hack. Hence, the malicious actors who exploited Fantom Foundation are also responsible for hacking above-mentioned anonymous TRON wallet.
The highlighted link between the TRON wallet and Fantom Foundation hacks raises apprehensions about blockchain vulnerabilities. The exploiters are continuously tailoring their expertise to bypass the security mechanisms to drain the hard-earned money of the investors. Such persistent susceptibilities underscore the requirement for adequate security measures.
Hack Underscores Requirement for Robust Security Measures
The PeckShield investigator’s report about the latest TRON wallet breach indicates the need for the implementation of resilient security measures. Hence, as the experts emphasize, the crypto platforms should utilize multi-layered security approaches for institutional and individual users alike. Meanwhile, the crypto investors are advised to exercise caution to avoid such exploits.
