$4.3 Million in Stolen Crypto from Remilia DAO Hack Traced to Tornado Cash

Suspicions Arise

Following the hack on March 16th, Remilia and Milady brand owner Krishna Okhandiar, also known as Charlotte Fang, took considerable time before publicly addressing the incident. It was eventually discovered that the stolen assets had swiftly been laundered through this specific wallet.

The theft of NFTs further fueled discussions after Dumpster DAO reposted Fang’s report, including a screenshot of the compromised address and details of the looted assets. Blockchain data confirmed the sale of the associated Milady NFTs, with subsequent withdrawals totaling 1 million ETH to another wallet.

However, skepticism persists among some users, who speculate that Remilia might have orchestrated the hack themselves.

DeFi Challenges in Focus

Remilia’s case underscores ongoing issues in decentralized finance (DeFi), particularly the difficulty in identifying and recovering stolen cryptocurrency. The continued use of tools like Tornado Cash by cybercriminals prompted US authorities to prohibit its use starting August 2022.

As investigations continue, anxiety within the cryptocurrency community remains palpable, underscoring the urgent need for heightened security measures in DeFi.

Also Read: Crypto Hackers Have Stolen $19 Billion+ Since 2011: Reports