Notional Finance Escrow Contract Shows Signs of $1.7 Million Exploit, Funds Moved to Tornado Cash
Summary
- Signs have emerged that about $1.7 million in crypto assets was drained from an escrow contract tied to DeFi protocol Notional Finance.
- About 69,257 DAI and 1,650,824 USDC, or roughly $1.728 million in total, were moved from the address.
- The attacker swapped the stolen assets for about 689.2 ETH and then moved the funds to Tornado Cash to make them harder to trace.
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About $1.7 million in crypto assets appears to have been drained from an escrow contract tied to decentralized finance protocol Notional Finance.
On Sept. 3, blockchain security firm PeckShield, citing analysis by Specter, said Notional Finance’s escrow contract may have been attacked.
On-chain transaction records show about 69,257 DAI and 1,650,824 USDC left the address in question, for a combined total of about $1.728 million.
The funds were later swapped into Ether. According to PeckShield, the attacker exchanged the stolen DAI and USDC for about 689.2 ETH before moving the assets to Tornado Cash, making them harder to trace.
Public transaction records show DAI and USDC moving from Notional Finance’s escrow contract to multiple addresses. The funds then appear to have been consolidated into a single address and converted into ETH.
Notional Finance has yet to disclose an official loss estimate or provide a detailed explanation of the cause of the attack.
YM Lee
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