Over $1.5 Million of ETH From the AscendEx Hack Moved to Uniswap

Two months after exploiting the crypto exchange AscendEx (formerly Bitmax), the anonymous hackers have transferred around $1.5 million worth of Ethereum to Uniswap in their first attempts to launder the money.

  • CryptoPotato reported in mid-December when the three-year-old digital asset trading platform became the latest victim of a security breach.
  • Early estimations showed that the total amount swiped was the equivalent of about $80 million in Ether, Binance Coin, and MATIC.
  • The addresses that received the funds were blacklisted immediately, and there was little-to-no movement until today.
  • However, the blockchain security company PeckShield highlighted that there’s activity coming from one of the Ethereum addresses.
  • More specifically, the hackers sent roughly $1.5 million worth of ETH to Uniswap in their first attempts to launder the funds.
  • Being a decentralized exchange, Uniswap doesn’t have any KYC requirements, meaning that the perpetrators can mix their coins and send them to new addresses without being traced.
  • After the hack, AscendEx suspended all withdrawals and deposits for security reasons, and it took the exchange a little over a week to resume all services.

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