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Rodeo Finance Exploited: $1.53 Million Worth of ETH Stolen

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@PeckShieldAlert reported in a recent attack on Rodeo Finance, an exploit resulted in the theft of approximately $1.53 million worth of Ethereum (ETH), equivalent to around 810.1 ETH. The hacker responsible for the attack successfully bridged the stolen funds from the Arbitrum network to Ethereum and made additional transactions involving alternative tokens. This incident has once again highlighted the importance of robust security measures within the cryptocurrency ecosystem.

The Exploit and Stolen Funds

The exploit on Rodeo Finance allowed the attacker to gain unauthorized access to user funds, resulting in the theft of 810.1 ETH, valued at approximately $1.53 million at the time. The hacker employed a method to bridge the stolen funds from the Arbitrum network to the Ethereum mainnet.

Swapping and Depositing

After successfully obtaining the stolen funds, the attacker proceeded to convert 285 ETH into a token called unshETH. This conversion was likely an attempt to obfuscate the transaction trail and make it more difficult to trace the stolen funds. The hacker then deposited the converted unshETH tokens into the Ankr: ETH2 Staking platform.

Tornado Cash Transaction

In another move to further distance the stolen funds from their origin, the attacker transferred 150 ETH to Tornado Cash. Tornado Cash is a privacy-focused Ethereum mixer that allows users to enhance the privacy and anonymity of their transactions. By utilizing Tornado Cash, the hacker aimed to make it more challenging to track the stolen funds.


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