• February 27, 2024

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The Hacker of Crypto Exchange AscendEX Starts Laundering Stolen Assets

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The attacker who hacked cryptocurrency exchange AscendEX in December 2021 has started to sell the stolen assets.

According to the experts of security company PeckShield, the attacker has exchanged ERC-20 tokens, including Route, Rio Fuel, MATIC, REVV, Clearpool and MAPS, for Ethereum through decentralized exchange Uniswap.

The sales volume has exceeded $1 million and the hacker has aggregated funds in one wallet. At the moment, the address contains 2,459 ETH or $7.2 million.

AscendEX confirmed on December 12 it had fallen victim to a hack of its Ethereum, Polygon and Binance Smart Chain hot wallets.

PeckShield has estimated the damage at $77.7 million. The largest amount of stolen assets fell on tokens in the Ethereum network with about $60 million.

AscendEX was founded in 2018 under the name BitMax. In March 2021, the company changed its name.