Remilia Hacker Funneled $4.3 Million to Tornado Cash: A Closer Look at the Crypto Exploit

The hacker responsible for the $4.3 million Remilia exploit in March has made a bold move by siphoning the stolen crypto assets through the crypto mixer Tornado Cash. This development was reported by blockchain analysis company CertiK on June 17, revealing that 1,209.5 Ether (ETH) worth approximately $4.3 million was deposited into Tornado Cash. The assets were traced back to multiple addresses associated with the Remilia hack that took place on March 16.

Remilia is a decentralized autonomous organization (DAO) known for the Milady Maker non-fungible token (NFT) collection. The hacker behind the exploit deposited the stolen crypto assets to the mixing platform about three months after the initial hack. The founder of Remilia and Milady, Krishna Okhandiar, also known as Charlotte Fang, claimed they were hacked on March 16. Significant amounts of ETH and NFTs were transferred to a wallet that liquidated the assets upon receipt, as reported by an account called Dumpster DAO on X.

The address that received the assets from wallets connected to Remilia was found to have sold Milady-linked NFTs, including staked NFTx assets, and transferred $1 million in ETH to another address. Additionally, just two days after the hack, a memecoin inspired by the Milady NFTs, called Milady Wif Hat (LADYF), conducted a successful presale on the Solana network. The meme token attracted 91,486 Solana (SOL) within two hours of the announcement, amounting to $18.7 million at the time.

Despite the oversubscribed presale, the team behind Milady Wif Hat announced that they would return all additional SOL to the senders. However, the token’s price has since depreciated, reaching a new all-time low of $0.00001703 on June 14. The creators of the memecoin clarified on their website that they are not affiliated with Charlotte Fang or the Milady Maker NFTs, stating that the token is simply a tribute to a beloved NFT collection.

This latest development in the Remilia hack saga sheds light on the ongoing challenges faced by the crypto community in combating malicious actors and securing digital assets. The incident serves as a reminder of the importance of robust security measures and vigilant oversight in the ever-evolving landscape of blockchain technology and cryptocurrency.