AscendeEX Hackers Start Moving $1.5M Worth Of ETH To Uniswap

The AscendeEX hackers started moving the stolen funds worth $1.5 million in ETH to Uniswap as we can see further in our latest cryptocurrency news today.

Two months after the exploit on the crypto exchange, the AscendeEX hackers started moving $1.5 million worth of ETH to Uniswap in their first attempts to launder the money. The three-year-old digital asset platform became the latest victim of a security breach and the early estimations showed that the total amount swiped was the equivalent of $80 million in Binance Coin, MATIC, and Ether. The addresses that recieved the funds were blacklisted and there was almost nothing moving until today.

The @AscendEX_Global incident hackers start laundering money. The hackers swapped erc20-token on @Uniswap and aggregated ether to this wallet :https://t.co/xKV2x9R0bt pic.twitter.com/wfNqthS2Yx

— PeckShieldAlert (@PeckShieldAlert) February 18, 2022

The blockchain security company Peckshield outlined that the activity is coming from one of the ETH addresses and more specifically, the hackers sent about $1.5 million worth of ETH to Uniswap in their first attempts to launder the funds. Uniswap because it is decentralized, doesn’t have any KYC requirements, which means that the perpetrators can mix their coins and send them to a new address without being traced. After the hack, AscendEX suspended the withdrawals and deposits for security reasons as it took the exchange a little over a week to resume the services.

As recently reported, The investor in an NFT and metaverse project, Animoca Brands issued a scam alert regarding the new ERC-20 token dubbed Animoca Brands Metaverse on Uniswap V2 and the company said the asset fraudulently claims to be associated with it and uses the symbol Animoca. According to the official press release, Animoca Brands noted that the namesake token has no connection to the company and even urged the company to stay away from the fraudulent coin and any other related activities like engaging in any form such as social media and messaging apps.

The founder of Uniswap labs hired Gordon Liao as a former FED economist. Liao expressed his commitment to helping the DEFI space achieve its potential and detailed why he left the FED. A few expressed quite the skepticism at the new hire because of his involvement with the centralized finance world. Uniswap Labs is the primary developer of the decentralized finance protocol Uniswpa, hired former Federal Reserve economist Gordan Liao to lead the research branch and he outlined a few reasons for this move such as his excitement around the innovations in the crypto space.