Hacker Base returns after 2 years: Transfers $5.4 million to Mixer for anonymity

After a long period of silence lasting nearly 2 years since the infamous attack on Base in April 2024, the attacker has resumed activity to cover their tracks. Blockchain data recently discovered shows that the hacker’s wallet has begun moving stolen funds through an organized anonymous process to erase all traces of the transactions.

Transfer Detection: Hacker Begins Covering Tracks

According to on-chain data, the attacker transferred 5.8 million DAI to a newly created wallet, then immediately exchanged the entire amount for Ethereum (ETH). Currently, ETH is valued at $2.17K, allowing the hacker to perform large-volume conversions. To date, a total of $5.4 million from the stolen funds has been deposited into mixers—services used to obscure the source and destination of funds.

Anonymity Strategy: Splitting Funds into Mixers

The hacker is dividing the entire amount into smaller portions before depositing into mixers. This method aims to avoid detection by transaction monitoring systems and optimize anonymity. The deposit pattern observed includes:

• 20 transactions: each 100 ETH
• 3 transactions: each 10 ETH
• 8 transactions: each 1 ETH
• 9 transactions: each 0.1 ETH

This splitting strategy indicates that the attacker is trying to minimize the risk of detection by not depositing large sums all at once.

Base 2024 Attack: Recap

On-chain investigator ZachXBT identified the original attack on April 21, 2024. At that time, a smart contract on Base on the Polygon network was drained through over 1,700 transactions, with an estimated total loss of approximately $15.97 million USDC. This is one of the largest attacks recorded on this platform, impacting the security of dapp users on Base.

The attacker’s return after nearly 2 years of silence shows they are still seeking ways to launder the stolen funds through anonymous channels. This underscores the importance of monitoring blockchain activity and using advanced security tools to protect digital assets.

This article is for informational purposes only and does not constitute investment advice. Please read carefully and consider thoroughly before making any decisions related to digital assets.